Michigan Bank Loan Issued to Internal Combustion Engines, Nec Company

Looking to get a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by a Michigan bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Potterville, Michigan by studying this loan to a local company, made back in 2000. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INTERNAL COMBUSTION ENGINES, NEC
POTTERVILLE, MI 48876

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

3519 - Internal Combustion Engines, NEC

Loan Approval Date

6/23/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 2 employees. This SBA loan request indicated that the borrowed money would help generate 2 new jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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