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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > United Bank Of Michigan Grand Rapids Business Loans > Welding And Soldering Equipment Manufacturing Loan | ||||
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Banks That Lend to Comstock Park Small Business Owners
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United Bank Of Michigan Gives Business Loan to Welding And Soldering Equipment Manufacturing CompanyMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a Michigan bank provides the loan. This small business, based in Comstock Park, 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 United Bank Of Michigan. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: WELDING AND SOLDERING EQUIPMENT MANUFACTURING SBA Loan Lender UNITED BANK OF MICHIGAN The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333992 - Welding and Soldering Equipment Manufacturing Loan Approval Date 2/16/2005 Loan Approval Gross Amount $161,200 Loan Approval from the SBA Of the total $161,200 loan amount, the SBA guaranteed $120,900. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Lenders in Grand Rapids, Michigan
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