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May 3, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Motor Vehicle Electrical And Electronic Equipment Manufacturing Loan | ||||
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Getting an SBA 7A Loan in Walled Lake, Michigan
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Walled Lake, Michigan Entrepreneur Gets a Small Business LoanBank loans in Michigan are hard to find these days. We take a look at one Michigan bank loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Walled Lake, Michigan was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE ELECTRICAL AND ELECTRONIC EQUIPMENT MANUFACTURING SBA Loan Lender WELLS FARGO BANK The lender provided this SBA small business 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 336322 - Motor Vehicle Electrical and Electronic Equipment Manufacturing Loan Approval Date 11/14/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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 $30,000 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: Small Bank Loans in San Jose, California
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