Borrowing Money for Building Equipment Contractors

Looking for loans for building equipment contractors? Try the SBA. This $166,500 building equipment contractors loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Niles, Michigan was able to borrow $166,500 from 1st Source Bank. The SBA made the loan possible by guaranteeing $83,250 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS
NILES, MI 49120

SBA Loan Lender

1ST SOURCE BANK
100 N MICHIGAN ST
SOUTH BEND, IN 46601

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

238290 - Building Equipment Contractors

Loan Approval Date

6/28/2006

Loan Approval Gross Amount

$166,500

Loan Approval from the SBA

Of the total $166,500 loan amount, the SBA guaranteed $83,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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