Loans for Grocery and Related Products Wholesalers
Looking for loans for grocery and related products wholesalers? An SBA loan may be just what you've been looking for. This $50,000 grocery and related products wholesalers loan was issued by an Ohio bank.
Getting a small business loan in Grand Rapids, Michigan was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank, operating out of Columbus, Ohio. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS WHOLESALERS
GRAND RAPIDS, MI 49509
SBA Loan Lender
THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219
This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
422490 - Grocery and Related Products Wholesalers
Loan Approval Date
5/8/2003
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Huntington National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
504 Loans
Banks in Columbus, Ohio
SBA Lenders in Ohio