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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Benton Harbor, Business Loans > Chemical Bank Benton Harbor Business Loans > Electronic Parts And Equipment Merchant Wholesalers Loan | ||||
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SBA Lender Michigan
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Business Loan from Chemical Bank Given to Electronic Parts And Equipment Merchant Wholesalers CompanyAn SBA loan from Chemical Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Allegan, Michigan business owner got a $40,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Allegan, Michigan was able to borrow $40,000 from Chemical Bank. The SBA made the loan possible by guaranteeing $20,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender CHEMICAL BANK The lender provided this 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 423690 - Electronic Parts and Equipment Merchant Wholesalers Loan Approval Date 11/3/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Chemical Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Determining Proper Capital Structure for a Business SBA Approved Banks in Benton Harbor, Michigan
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