Company Gets a Michigan Bank Loan

MichiganSBA loans are available to Michigan entrepreneurs through the SBA. In this case, an Ohio bank provides the loan.

Getting a small business loan in Monroe, Michigan was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Keybank National Association. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
Monroe, MI 48162

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

The lender provided this SBA 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

442210 - Floor Covering Stores

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 32 employees. The loan application indicated that the loan would help retain 32 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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Small Business Banks in Cleveland, Ohio

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