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May 20, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Convenience Stores Loan | ||||
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We Needed a Business Loan in County Spur, Michigan and We Got One!
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Get an SBA Loan for Convenience StoresLooking for loans for convenience stores? An SBA loan may be just what you've been looking for. This $433,500 convenience stores loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in County Spur, Michigan was able to borrow $433,500 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $325,125 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender FIFTH THIRD BANK This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445120 - Convenience Stores Loan Approval Date 4/3/2001 Loan Approval Gross Amount $433,500 Loan Approval from the SBA Of the total $433,500 loan amount, the SBA guaranteed $325,125. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 72 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company. 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: Find an SBA Lender in Grand Rapids, Michigan SBA Participating Banks in Michigan
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