Hamtramck, Michigan Bank Gives SBA Loan to Automotive Repair And Maintenance Company

Get to know Hamtramck, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Peoples State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Oak Park, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Peoples State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
OAK PARK, MI 48237

SBA Loan Lender

PEOPLES STATE BANK
9252 JOSEPH CAMPAU AVE
HAMTRAMCK, MI 48212

This bank 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

811198 - Automotive Repair and Maintenance

Loan Approval Date

9/15/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - Getting Venture Capital

SBA Approved Banks in Hamtramck, Michigan

Michigan SBA Banks