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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Sparta, Business Loans > Choiceone Bank Sparta Business Loans > Power And Communication Line And Related Structures Construction Loan | ||||
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SBA Lender Sparta Michigan
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Michigan Business Loan Issued to Power And Communication Line And Related Structures Construction CompanyMichiganBank loans are available to Michigan firms through the SBA. In this case, a Michigan bank provides the loan. By giving the right information to Choiceone Bank, this Sparta, Michigan business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: POWER AND COMMUNICATION LINE AND RELATED STRUCTURES CONSTRUCTION SBA Loan Lender CHOICEONE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237130 - Power and Communication Line and Related Structures Construction Loan Approval Date 11/10/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. 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. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Sparta 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. Related Links: Who Lends Money to Small Businesses in Sparta, Michigan
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