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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Midland, Business Loans > Chemical Bank Midland Business Loans > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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Banks Doing SBA Loans in Michigan
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Midland, Michigan Bank Lends Money to Motorcycle, Atv, And Personal Watercraft Dealers Company in Kalamazoo, MichiganThinking about meeting with a Midland, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Midland bank, that was approved by the SBA. Applying for an SBA loan with Chemical Bank worked out well for our friends at one local firm in Kalamazoo, Michigan. They got an SBA loan for $7,500. Nice! SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS SBA Loan Lender CHEMICAL BANK This lender processed this SBA bank 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 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 2/6/2008 Loan Approval Gross Amount $7,500 Loan Approval from the SBA Of the total $7,500 loan amount, the SBA guaranteed $3,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $7,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Microlending as a Small Business Funding Source Find an SBA Lender in Midland, Michigan
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