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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > New Single-Family Housing Construction Loan | ||||
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Almont, Michigan Bank Loan
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Michigan SBA Loan Issued to New Single-Family Housing Construction CompanySBA loans in Michigan are tough to come by these days. We take a look at one Michigan SBA loan, provided by a Virginia bank, that was approved by the SBA. Getting a small business loan in Almont, Michigan was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender CAPITAL ONE The lender provided this SBA 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 236115 - New Single-Family Housing Construction Loan Approval Date 10/13/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding - How to Decide How Much to Raise
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