SBA Loan from Lasalle Bank Midwest Helps Poured Concrete Foundation And Structure Contractors Company

An SBA loan from Lasalle Bank Midwest typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Macomb, Michigan business owner got a $30,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Macomb, Michigan was able to borrow $30,000 from Lasalle Bank Midwest. The SBA made the loan possible by guaranteeing $15,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
MACOMB, MI 48044

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

The lender provided this commercial loan 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

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

5/8/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $30,000. How would you spend $30,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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