Peoples State Bank SBA Loan to General Long-Distance Freight Trucking Company

An SBA loan from Peoples State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Warren, Michigan business owner got a $33,200 loan.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Peoples State Bank, out of Hamtramck, Michigan. The loan was granted and they received $33,200 to help grow their Warren, Michigan business.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
WARREN, MI 48092

SBA Loan Lender

PEOPLES STATE BANK
9252 JOSEPH CAMPAU AVE
HAMTRAMCK, MI 48212

The lender provided this SBA small 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

484121 - General Long-Distance Freight Trucking

Loan Approval Date

10/27/2006

Loan Approval Gross Amount

$33,200

Loan Approval from the SBA

Of the total $33,200 loan amount, the SBA guaranteed $16,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 1 new job.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Advice on Getting a Small Business Loan

Best Banks in Hamtramck, Michigan

Browse All Business Loan Sources for Michigan