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May 12, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Kentwood, Business Loans > Kent Commerce Bank Kentwood Business Loans > Landscape Counseling And Planning Loan | ||||
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Michigan Bank SBA Loans
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Kent Commerce Bank SBA Loan to Landscape Counseling And Planning CompanyWant a Michigan business loan? Here's one Michigan business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Comstock Park, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Kent Commerce Bank, based in Kentwood, Michigan. SBA Loan Borrower COMPANY TYPE: LANDSCAPE COUNSELING AND PLANNING SBA Loan Lender KENT COMMERCE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0781 - Landscape Counseling and Planning Loan Approval Date 9/28/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 20 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business 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 money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Kent Commerce Bank 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: Small Bank Loans in Kentwood, Michigan
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