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November 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Saginaw Township, Business Loans > 1st State Bank Saginaw Township Business Loans > Clothing Stores Loan | ||||
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Michigan Small Business Loans from 1st State Bank
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Saginaw, Michigan Business Gets SBA-Guaranteed Funding from 1st State BankAn SBA loan from 1st State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saginaw, Michigan business owner got a $50,000 loan. This growing company knew how to go about getting a business bank loan. Based in Saginaw, Michigan, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was 1st State Bank, based in Saginaw Township, Michigan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender 1ST STATE BANK This lender processed this business 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. NAICS Code 448190 - Clothing Stores Loan Approval Date 5/15/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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. The loan application indicated that the borrowed money would help generate 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Realistic Debt Financing Options SBA 7A Lenders in Saginaw Township, Michigan
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