Michigan Bank Loan Issued to Painting And Wall Covering Contractors Company

SBA loans in Michigan are hard to find these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA.

Getting a small business loan in New Boston, 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 Lasalle Bank Midwest. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
NEW BOSTON, MI 48164

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

238320 - Painting and Wall Covering Contractors

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$14,000

Loan Approval from the SBA

Of the total $14,000 loan amount, the SBA guaranteed $7,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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