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April 29, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Roseville, Business Loans > Wachovia Sba Lending, Inc. Roseville Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Best Banks for Small Businesses in Michigan
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Grand Rapids, Michigan Entrepreneur Gets a Bank LoanLooking to get a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners. Getting a small business loan in Grand Rapids, Michigan was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wachovia Sba Lending, Inc.. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender WACHOVIA SBA LENDING, INC. This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 2/21/2003 Loan Approval Gross Amount $280,000 Loan Approval from the SBA Of the total $280,000 loan amount, the SBA guaranteed $210,000. 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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Borrow Money Who Lends Money to Small Businesses in Roseville, California
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