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November 24, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > De Graff, Business Loans > United Midwest Savings Bank De Graff Business Loans > Supermarkets And Grocery Stores Loan | ||||
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SBA 7A Banks That Lend to Warren Small Businesses
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Michigan Business Loan Issued to Supermarkets And Grocery Stores CompanySBA loans in Michigan are are few and far betweeen these days. We take a look at one Michigan SBA loan, provided by an Ohio bank, that was approved by the SBA. By giving the right information to United Midwest Savings Bank, this Warren, Michigan business was able to get an SBA loan. To get this loan, the applying company 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: SUPERMARKETS AND GROCERY STORES SBA Loan Lender UNITED MIDWEST SAVINGS BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 6/23/2004 Loan Approval Gross Amount $530,000 Loan Approval from the SBA Of the total $530,000 loan amount, the SBA guaranteed $397,500. 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 documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $530,000. How would you spend $530,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks for De Graff, Ohio Loans
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