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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Eating Places Loan | ||||
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Michigan Bank SBA Loans
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Fifth Third Bank SBA Loan to Eating Places CompanyWant a Michigan business loan? Here's one Michigan business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Taylor, Michigan was able to borrow $495,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $371,250 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FIFTH THIRD BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 8/4/2000 Loan Approval Gross Amount $495,000 Loan Approval from the SBA Of the total $495,000 loan amount, the SBA guaranteed $371,250. 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 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $495,000. How would you spend $495,000 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: Find an SBA Lender in Grand Rapids, Michigan Getting an SBA Loan in Michigan
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