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November 14, 2024 |
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| Home > Small Business Lenders by State > Kentucky Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Engineering Services Loan | ||||
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Michigan SBA Lenders
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Entrepreneur Works With Grand Rapids, Michigan Bank to Get an SBA LoanThinking about meeting with a Grand Rapids, Michigan bank about a small business loan? Here's one Kentucky business loan, issued by a Grand Rapids bank, that was approved by the SBA. Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local firm in Louisville, Kentucky. The business was able to get an SBA loan for $102,300. Nice! SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender FIFTH THIRD BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 11/21/2006 Loan Approval Gross Amount $102,300 Loan Approval from the SBA Of the total $102,300 loan amount, the SBA guaranteed $86,955. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: SBA Participating Banks in Grand Rapids, Michigan
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