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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Wrecking And Demolition Work Loan | ||||
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SBA Lender Ionia Michigan
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How to Get a Loan for Wrecking and Demolition ContractorsLooking for business loans for wrecking and demolition contractors? Talk to a banker who works with the SBA. This $39,000 wrecking and demolition contractors loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ionia, Michigan was able to borrow $39,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $33,150 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: WRECKING AND DEMOLITION WORK SBA Loan Lender FIFTH THIRD BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1795 - Wrecking and Demolition Work NAICS Code 235940 - Wrecking and Demolition Contractors Loan Approval Date 11/19/2002 Loan Approval Gross Amount $39,000 Loan Approval from the SBA Of the total $39,000 loan amount, the SBA guaranteed $33,150. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Business Banks in Grand Rapids, Michigan Getting an SBA Loan in Michigan
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