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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Troy, Business Loans > Lasalle Bank Midwest Troy Business Loans > Activities Related To Real Estate Loan | ||||
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Raising Money in Casnovia, Michigan With SBA Loans
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Michigan SBA Loan Issued to Activities Related To Real Estate CompanySBA loans in Michigan are are few and far betweeen these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA. This company, based in Casnovia, 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: ACTIVITIES RELATED TO REAL ESTATE SBA Loan Lender LASALLE BANK MIDWEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 531390 - Activities Related to Real Estate Loan Approval Date 8/27/2007 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in Troy, Michigan Getting an SBA Loan in Michigan
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