Loan Census Banking News and Information
November 22, 2024  
 
 
  Business Loan Information  
 

SBA Lender Sparta Michigan

 

 
Loan Census SBA Loan Info

Michigan Business Loan Issued to Power And Communication Line And Related Structures Construction Company

MichiganBank loans are available to Michigan firms through the SBA. In this case, a Michigan bank provides the loan.

By giving the right information to Choiceone Bank, this Sparta, Michigan business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION
SPARTA, MI 49345

SBA Loan Lender

CHOICEONE BANK
109 E DIVISION
SPARTA, MI 49345

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237130 - Power and Communication Line and Related Structures Construction

Loan Approval Date

11/10/2004

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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

Related Links:

How Equity Dilution Works

Who Lends Money to Small Businesses in Sparta, Michigan

SBA Michigan Lenders