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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Specialized Long-Distance Freight Trucking Loan | ||||
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Small Business Banks for Traverse City, Michigan Entrepreneurs
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Michigan Bank Loan Issued to Specialized Long-Distance Freight Trucking CompanySearching for a Michigan SBA loan? This Michigan entrepreneur got an SBA loan, provided by a Michigan bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Traverse City, Michigan by studying this loan to a local business, made back in 2007. Banks like Fifth Third Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender FIFTH THIRD 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 484230 - Specialized Long-Distance Freight Trucking Loan Approval Date 2/20/2007 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. 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 indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Fifth Third Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Realistic Debt Financing Options Best Banks for Small Business in Grand Rapids, Michigan
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