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December 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Services Related To Advertising Loan | ||||
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SBA Lender Muskegon Michigan
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Get an SBA Loan for Services Related to AdvertisingWith these loans for services related to advertising, the SBA guarantees the lender that the loan will be repaid. This services related to advertising loan for $140,000 was given to a Michigan entrepreneur in 2004. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $140,000 to help grow their Muskegon, Michigan business. SBA Loan Borrower COMPANY TYPE: SERVICES RELATED TO ADVERTISING SBA Loan Lender FIFTH THIRD BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541890 - Services Related to Advertising Loan Approval Date 12/30/2004 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. 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 3 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Grand Rapids, Michigan Browse All Business Loan Sources for Michigan
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