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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Ann Arbor, Business Loans > Ann Arbor Commerce Bank Ann Arbor Business Loans > Floor Covering Stores Loan | ||||
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I Need a Business Loan in Ypsilanti, Michigan
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Commercial Loans for Floor Covering StoresLooking for commercial loans for floor covering stores? Try the SBA. This $850,000 floor covering stores loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ypsilanti, Michigan was able to borrow $850,000 from Ann Arbor Commerce Bank. The SBA made the loan possible by guaranteeing $637,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender ANN ARBOR COMMERCE 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. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 8/11/2005 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. 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 6 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 6 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Best Ann Arbor, Michigan Banks for Small Business Getting an SBA Loan in Michigan
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