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May 2, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Troy, Business Loans > Lasalle Bank Midwest Troy Business Loans > Caterers Loan | ||||
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Raising Money in Detroit, Michigan With SBA Loans
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How to Get a Loan for CaterersLooking for SBA loans for caterers? Try the SBA. This $262,500 caterers loan was issued by a Michigan bank. This small business knew how to go about getting a business bank loan. Based in Detroit, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Lasalle Bank Midwest, based in Troy, Michigan. SBA Loan Borrower COMPANY TYPE: CATERERS SBA Loan Lender LASALLE BANK MIDWEST The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722320 - Caterers Loan Approval Date 5/4/2006 Loan Approval Gross Amount $262,500 Loan Approval from the SBA Of the total $262,500 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lasalle Bank Midwest that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Bank Loans in Troy, Michigan SBA Participating Banks in Michigan
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