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December 25, 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 > Snack And Nonalcoholic Beverage Bars Loan | ||||
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How Hard Is It to Get a Small Business Loan in Laingsburg, Michigan?
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Snack and Nonalcoholic Beverage Bars Small Business LoansLooking for small business loans for snack and nonalcoholic beverage bars? An SBA loan may be just what you've been looking for. This $50,000 snack and nonalcoholic beverage bars loan was issued by a Michigan bank. This company knew how to go about getting a business bank loan. Based in Laingsburg, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender FIFTH THIRD BANK This lender processed this SBA small business 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 4/12/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had no employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 SBA Participating Banks in Michigan
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