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May 12, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Alma, Business Loans > Commercial Bank Alma Business Loans > Landscaping Services Loan | ||||
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SBA Lender Alma, Michigan
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Entrepreneur Works With Alma, Michigan Bank to Get an SBA LoanGet to know Alma, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Commercial Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Ithaca, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Commercial Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender COMMERCIAL BANK The lender provided this SBA business 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 561730 - Landscaping Services Loan Approval Date 10/22/2004 Loan Approval Gross Amount $30,400 Loan Approval from the SBA Of the total $30,400 loan amount, the SBA guaranteed $15,200. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for 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 2 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Commercial 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: SBA 7A Lenders in Alma, Michigan
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