Lasalle Bank Midwest Gives Bank Loan to Commercial And Industrial Machinery And Equipment Company
MichiganBank loans are available to Michigan firms through the SBA. In this case, a Michigan bank provides the loan.
This business, based in Wayne,, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Lasalle Bank Midwest. We've got the inside scoop on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
Wayne,, MI 48184
SBA Loan Lender
LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933
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
811310 - Commercial and Industrial Machinery and Equipment
Loan Approval Date
6/23/2005
Loan Approval Gross Amount
$742,900
Loan Approval from the SBA
Of the total $742,900 loan amount, the SBA guaranteed $557,175.
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 7 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Lasalle Bank Midwest and they will explain how you can get an SBA loan for your company.
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:
Small Business Credit Cards
Who Lends Money to Small Businesses in Lansing, Michigan
Michigan SBA Bank Lenders