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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Midland, Business Loans > Chemical Bank Midland Business Loans > Book Stores Loan | ||||
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Getting SBA Loans from Chemical Bank
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SBA Loan from Chemical Bank Helps Book Stores CompanyAn SBA loan from Chemical Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Marshall, Michigan business owner got a $130,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Chemical Bank, out of Midland, Michigan. The loan was granted and they received $130,000 to help grow their Marshall, Michigan business. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender CHEMICAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 451211 - Book Stores Loan Approval Date 5/10/2007 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $65,000. 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 SBA loan application for the borrower indicated that the funding would help create 3 new jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Chemical Bank and they will explain how you can get an SBA loan for your company. 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in Midland, Michigan
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