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November 14, 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 > Ice Manufacturing Loan | ||||
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Fifth Third Bank SBA Loans
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Financing for Ice ManufacturingWith these loans for ice manufacturing, the SBA guarantees the lender that the loan will be repaid. This ice manufacturing loan for $20,000 was given to a Michigan entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Perry, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: ICE MANUFACTURING SBA Loan Lender FIFTH THIRD BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 312113 - Ice Manufacturing Loan Approval Date 2/21/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 no employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We can help you find the best banks for small businesses in Perry or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Realistic Debt Financing Options SBA 7A Lenders in Grand Rapids, Michigan
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