Store Retailers Loans

With these loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $147,000 was given to a Michigan entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Lowell, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Firstbank- West Michigan, based in Ionia, Michigan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
LOWELL, MI 49331

SBA Loan Lender

FIRSTBANK- WEST MICHIGAN
302 W MAIN ST
IONIA, MI 48846

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

453998 - Store Retailers

Loan Approval Date

11/29/2007

Loan Approval Gross Amount

$147,000

Loan Approval from the SBA

Of the total $147,000 loan amount, the SBA guaranteed $73,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

SBIR Funding

Where to Get an SBA Loan in Ionia, Michigan

Michigan SBA 7A Lenders