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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > Engineering Services Loan | ||||
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We Needed a Small Business Loan in Madison Heights, Michigan and We Got One!
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SBA Loans for Engineering ServicesWith these SBA loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $20,700 was given to a Michigan entrepreneur in 2006. Getting a small business loan in Madison Heights, Michigan was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Peoples State Bank, operating out of Hamtramck, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender PEOPLES STATE BANK The lender provided this SBA bank 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 541330 - Engineering Services Loan Approval Date 10/20/2006 Loan Approval Gross Amount $20,700 Loan Approval from the SBA Of the total $20,700 loan amount, the SBA guaranteed $10,350. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a business in Madison Heights MI, you ought to talk with a local Madison Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Madison Heights businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Realistic Debt Financing Options SBA Banks in Hamtramck, Michigan Browse All Business Loan Sources for Michigan
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