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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Midland, Business Loans > Chemical Bank Midland Business Loans > Personal Care Services Loan | ||||
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SBA 7A Banks That Lend to Midland Small Business Owners
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Growing Company Gets a Michigan Small Business LoanLooking to get a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by a Michigan bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Midland, Michigan by studying this loan to a local company, made back in 2005. Banks like Chemical Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL CARE SERVICES 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 812199 - Personal Care Services Loan Approval Date 8/15/2005 Loan Approval Gross Amount $255,000 Loan Approval from the SBA Of the total $255,000 loan amount, the SBA guaranteed $127,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 6 new jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chemical Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Midland, Michigan
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