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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Holland, Business Loans > Macatawa Bank Holland Business Loans > Farm Supplies Merchant Wholesalers Loan | ||||
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Banks That Lend to Caledonia Small Business Owners
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Caledonia, Michigan Entrepreneur Gets a Small Business LoanBusiness loans in Michigan are hard to find these days. We take a look at one Michigan business loan, provided by a Michigan bank, that was approved by the SBA. This business, based in Caledonia, 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 Macatawa Bank. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender MACATAWA BANK This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424910 - Farm Supplies Merchant Wholesalers Loan Approval Date 7/26/2007 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 40 employees. The SBA loan documents indicated that the loan would help retain 40 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Holland, Michigan Banks for Small Business
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