SBA Loan from Lasalle Bank Midwest Helps Lawyers Company
Lasalle Bank Midwest is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Pontiac, Michigan was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Lasalle Bank Midwest, operating out of Lansing, Michigan. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: LAWYERS
PONTIAC, MI 48342
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
The lender provided this commercial 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
541110 - Lawyers
Loan Approval Date
7/9/2004
Loan Approval Gross Amount
$81,000
Loan Approval from the SBA
Of the total $81,000 loan amount, the SBA guaranteed $40,500.
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 only one employee. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.
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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lasalle Bank Midwest and they will explain how you can get an SBA loan for your company.
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:
Debt Financing
Where to Get an SBA Loan in Lansing, Michigan
Getting an SBA Loan in Michigan