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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Benton Harbor, Business Loans > Chemical Bank Benton Harbor Business Loans > Engineering Services Loan | ||||
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Good Banks for Saint Joseph Businesses
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Engineering Services Commercial LoansLooking for commercial loans for engineering services? An SBA loan may be just what you've been looking for. This $50,000 engineering services loan was issued by a Michigan bank. Getting a small business loan in Saint Joseph, Michigan was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank, operating out of Benton Harbor, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender CHEMICAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541330 - Engineering Services Loan Approval Date 10/8/2004 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 1 existing job. 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chemical Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - Friends and Family Find an SBA Lender in Benton Harbor, Michigan
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