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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > General Freight Trucking, Local Loan | ||||
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Raising Money in Grand Rapids, Michigan With SBA Loans
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Commercial Loans for General Freight Trucking, LocalWith these commercial loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $31,900 was given to a Michigan entrepreneur in 2006. Getting a small business loan in Grand Rapids, Michigan was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Bannockburn, Illinois. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender NATIONAL CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 484110 - General Freight Trucking, Local Loan Approval Date 2/7/2006 Loan Approval Gross Amount $31,900 Loan Approval from the SBA Of the total $31,900 loan amount, the SBA guaranteed $15,950. 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Grand Rapids MI, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $31,900 loan. Remember, fight for what you want, and it will be yours! 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 From a Venture Capitalist SBA Approved Banks in Bannockburn, Illinois
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