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May 2, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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Michigan Bank SBA Loans
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Grand Rapids, Michigan Bank Lends Money to Commercial And Industrial Machinery And Equipment Rental And Leasing Company in Indianapolis, IndianaThinking about meeting with a Grand Rapids, Michigan bank about a small business loan? Here's one Indiana business loan, issued by a Grand Rapids bank, that was approved by the SBA. Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local business in Indianapolis, Indiana. They got an SBA loan for $100,000. Nice! SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender FIFTH THIRD BANK The lender provided this 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 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 8/10/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 17 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Grand Rapids, Michigan Where to Get an SBA Loan Michigan
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