Portage, Michigan Business Gets SBA-Guaranteed Funding from Portage Commerce Bank
Portage Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Portage Commerce Bank, out of Portage, Michigan. The loan was granted and they received $70,000 to help grow their Portage, Michigan business.
SBA Loan Borrower
COMPANY TYPE: MANAGEMENT CONSULTING SERVICES
PORTAGE, MI 49024
SBA Loan Lender
PORTAGE COMMERCE BANK
800 E MILHAM
PORTAGE, MI 49002
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8742 - Management Consulting Services
NAICS Code
561613 - Armored Car Services
Loan Approval Date
3/24/2003
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $59,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees 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.
This SBA loan was for $70,000. How would you spend $70,000 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:
Microlending as a Small Business Funding Source
SBA Banks in Portage, Michigan
Find an SBA Lender in Michigan