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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Child Day Care Services Loan | ||||
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Comerica Bank
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Comerica Bank SBA Loan to Child Day Care Services CompanyAn SBA loan from Comerica Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Shelby Township, Michigan business owner got a $345,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shelby Township, Michigan was able to borrow $345,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $258,750 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender COMERICA BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624410 - Child Day Care Services Loan Approval Date 9/24/2007 Loan Approval Gross Amount $345,000 Loan Approval from the SBA Of the total $345,000 loan amount, the SBA guaranteed $258,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: A Company That Helps Entrepreneurs Browse All Business Loan Sources for Texas
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