Lansing, Michigan Bank Gives SBA Loan to Professional Equipment And Supplies Merchant Wholesalers Company

Thinking about meeting with a Lansing, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Lansing bank, that was approved by the SBA.

Applying for an SBA loan with Lasalle Bank Midwest worked out well for our friends at one local business in Rochester Hills, Michigan. They received an SBA loan for $250,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
ROCHESTER HILLS, MI 48307

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

The lender provided this business 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

423490 - Professional Equipment and Supplies Merchant Wholesalers

Loan Approval Date

5/14/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Rochester Hills 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.

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