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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Electrical Contractors Loan | ||||
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Raising Money in Lansing, Michigan With SBA Loans
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Electrical Contractors LoansLooking for loans for electrical contractors? The SBA may be the answer. This $250,000 electrical contractors loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $250,000 to help grow their Lansing, Michigan business. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS SBA Loan Lender FIFTH THIRD BANK This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 235310 - Electrical Contractors Loan Approval Date 10/8/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 75 employees. The SBA loan application for the borrower indicated that the loan would help retain 75 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Who Lends Money to Small Businesses in Grand Rapids, Michigan
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