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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > General Automotive Repair Loan | ||||
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How to Get an SBA Loan from 1st Source Bank
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SBA Loan from 1st Source Bank Helps General Automotive Repair CompanyAn SBA loan from 1st Source Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stevensville, Michigan business owner got a $40,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stevensville, Michigan was able to borrow $40,000 from 1st Source Bank. The SBA made the loan possible by guaranteeing $20,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender 1ST SOURCE BANK This lender processed this 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 811111 - General Automotive Repair Loan Approval Date 12/4/2003 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Stevensville 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: SBA 7A Banks for South Bend, Indiana Loans
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