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May 17, 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 > Chiropractors Loan | ||||
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Michigan Business Loans from Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps Chiropractors CompanyFifth Third Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Linden, Michigan was able to borrow $87,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $73,950 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender FIFTH THIRD BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621310 - Chiropractors Loan Approval Date 5/24/2004 Loan Approval Gross Amount $87,000 Loan Approval from the SBA Of the total $87,000 loan amount, the SBA guaranteed $73,950. 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 loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 SBA Approved Banks in Grand Rapids, Michigan
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