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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > Engineering Services Loan | ||||
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Banks That Lend to Madison Heights Small Businesses
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Local Business Gets a Michigan Small Business LoanWould a Michigan business loan help your company expand? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs. Getting a small business loan in Madison Heights, Michigan was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Peoples State Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender PEOPLES STATE 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 541330 - Engineering Services Loan Approval Date 11/16/2006 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 6 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Peoples State Bank and they will explain how you can get an SBA loan for your company. 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 Hamtramck, Michigan Browse All Business Loan Sources for Michigan
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