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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Hamtramck, Michigan SBA Banks
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Hamtramck, Michigan Lender Lends Money to General Long-Distance Freight Trucking CompanyGet SBA loans from a Hamtramck, Michigan bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Peoples State Bank is a Hamtramck, Michigan small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender PEOPLES STATE BANK The lender provided this small business 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 484121 - General Long-Distance Freight Trucking Loan Approval Date 10/18/2006 Loan Approval Gross Amount $41,400 Loan Approval from the SBA Of the total $41,400 loan amount, the SBA guaranteed $20,700. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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