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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bay City, Business Loans > Chemical Bank Bay City Business Loans > Hotels And Motels Loan | ||||
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Chemical Bank Pinconning
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SBA Loan from Chemical Bank Helps Hotels And Motels CompanyChemical Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Chemical Bank, out of Bay City, Michigan. The loan was granted and they received $148,000 to help grow their Pinconning, Michigan business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CHEMICAL BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/10/2004 Loan Approval Gross Amount $148,000 Loan Approval from the SBA Of the total $148,000 loan amount, the SBA guaranteed $125,800. 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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: How Much Venture Capital Is There? Find an SBA Lender in Bay City, Michigan
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