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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Canton, Business Loans > The Huntington National Bank Canton Business Loans > Plumbing, Heating, And Air Conditioning Contractors Loan | ||||
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How to Get SBA Money in Mount Clemens, Michigan
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Company Gets a Michigan Business LoanSBA loans in Michigan are tough to come by these days. We take a look at one Michigan SBA loan, provided by an Ohio bank, that was approved by the SBA. By giving the right information to The Huntington National Bank, this Mount Clemens, Michigan business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS SBA Loan Lender THE HUNTINGTON NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 9/17/2002 Loan Approval Gross Amount $440,000 Loan Approval from the SBA Of the total $440,000 loan amount, the SBA guaranteed $330,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The SBA loan documents indicated that the loan would help retain 9 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $440,000. How would you spend $440,000 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. Related Links: Accountant's Role in Securing Financing Small Business Banks in Canton, Ohio
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