Raising Money for Lessors of Real Estate Property

Looking for business loans for lessors of real estate property? Talk to a banker who works with the SBA. This $225,400 lessors of real estate property loan was issued by a Michigan bank.

Getting a small business loan in Brighton, Michigan was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Place Bank, operating out of Southfield, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF REAL ESTATE PROPERTY
BRIGHTON, MI 48114

SBA Loan Lender

FIRST PLACE BANK
24725 W 12 MILE RD
SOUTHFIELD, MI 48034

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

531190 - Lessors of Real Estate Property

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$225,400

Loan Approval from the SBA

Of the total $225,400 loan amount, the SBA guaranteed $112,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Place Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Bank Credit Lines

Best Banks for Small Business in Southfield, Michigan

Michigan SBA Banks