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May 18, 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 > Recreational Goods Rental Loan | ||||
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Business Loans for Traverse City Small Businesses
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Loans for Recreational Goods RentalWith these loans for recreational goods rental, the SBA guarantees the lender that the loan will be repaid. This recreational goods rental loan for $120,000 was given to a Michigan entrepreneur in 2004. This company knew how to go about getting a business bank loan. Based in Traverse City, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: RECREATIONAL GOODS RENTAL SBA Loan Lender FIFTH THIRD BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532292 - Recreational Goods Rental Loan Approval Date 5/25/2004 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 3 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Traverse City 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: Good Banks for Small Business in Grand Rapids, Michigan
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