Growing Company Gets a Michigan SBA Loan

Would a Michigan bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Michigan entrepreneurs.

Getting a small business loan in Romulus, Michigan was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: COURIERS AND EXPRESS DELIVERY SERVICES
ROMULUS, MI 48174

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

492110 - Couriers and Express Delivery Services

Loan Approval Date

8/7/2001

Loan Approval Gross Amount

$460,300

Loan Approval from the SBA

Of the total $460,300 loan amount, the SBA guaranteed $345,225.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 67 new jobs and retain 73 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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