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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > Poured Concrete Foundation And Structure Contractors Loan | ||||
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Who Lends Money to Roseville Small Business Owners
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Michigan Small Business Loan Issued to Poured Concrete Foundation And Structure Contractors CompanyWould a Michigan SBA loan help your business get to the next level? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs. You can learn something about getting a small business loan in Roseville, Michigan by studying this loan to a local business, made back in 2007. Banks like Peoples State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS SBA Loan Lender PEOPLES STATE BANK 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 238110 - Poured Concrete Foundation and Structure Contractors Loan Approval Date 2/16/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a business in Roseville MI, you ought to talk with a local Roseville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Roseville businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Best Hamtramck, Michigan Banks for Small Business
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