The Huntington National Bank Gives Bank Loan to No Industry Type Specified Company
Want a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by an Ohio bank that works with the SBA to help small business owners.
You can learn something about getting a small business loan in Rochester, Michigan by studying this loan to a local company, made back in 2007. Banks like The Huntington National Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
Rochester, MI 48306
SBA Loan Lender
THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
516110 -
Loan Approval Date
8/22/2007
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
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.
We can help you find the best banks for small businesses in Rochester or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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.
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