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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Traverse City, Business Loans > Northwestern Bank Traverse City Business Loans > Landscaping Services Loan | ||||
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Michigan SBA Lenders
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Traverse City, Michigan Bank Gives SBA Loan to Landscaping Services CompanyThinking about meeting with a Traverse City, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Traverse City bank, that was approved by the SBA. Applying for an SBA loan with Northwestern Bank worked out well for our friends at one local business in Traverse City, Michigan. The business was able to get an SBA loan for $60,000. Great job! SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender NORTHWESTERN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561730 - Landscaping Services Loan Approval Date 8/29/2005 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $60,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 - Getting Venture Capital SBA 7A Banks in Traverse City, Michigan
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