Lake Orion, Michigan Business Gets SBA-Guaranteed Funding from Lasalle Bank Midwest

An SBA loan from Lasalle Bank Midwest typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lake Orion, Michigan business owner got a $66,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lake Orion, Michigan was able to borrow $66,000 from Lasalle Bank Midwest. The SBA made the loan possible by guaranteeing $33,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
Lake Orion, MI 48359

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

The lender provided this bank 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

445299 - Specialty Food Stores

Loan Approval Date

6/19/2007

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $33,000.

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 loan application indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

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.

This SBA loan was for $66,000. How would you spend $66,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

SBIR Funding

SBA Participating Banks in Troy, Michigan

SBA Lenders in Michigan