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May 3, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Farmington Hills, Business Loans > Paramount Bank Farmington Hills Business Loans > Quick Printing Loan | ||||
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Tips for Small Business Owners On Getting a Loan
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Financing for Quick PrintingWith these commercial loans for quick printing, the SBA guarantees the lender that the loan will be repaid. This quick printing loan for $300,000 was given to a Michigan entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southfield, Michigan was able to borrow $300,000 from Paramount Bank. The SBA made the loan possible by guaranteeing $150,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: QUICK PRINTING SBA Loan Lender PARAMOUNT 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 323114 - Quick Printing Loan Approval Date 1/17/2007 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options Best Farmington Hills, Michigan Banks for Small Business Getting a Business Loan in Michigan
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