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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Southfield, Business Loans > First Place Bank Southfield Business Loans > Commercial And Institutional Building Construction Loan | ||||
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Troy SBA Loans
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Michigan Small Business Loan Issued to Commercial And Institutional Building Construction CompanyWould a Michigan bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs. By giving the right information to First Place Bank, this Troy, 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: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender FIRST PLACE BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 236220 - Commercial and Institutional Building Construction Loan Approval Date 8/15/2003 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you need business start up money in Troy MI, you ought to talk with a local Troy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Troy businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Place Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Participating Banks in Southfield, Michigan
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