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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 > Meat And Meat Product Merchant Wholesalers Loan | ||||
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Business Loans for Detroit Business Owners
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Borrowing Money for Meat and Meat Product Merchant WholesalersWith these loans for meat and meat product merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This meat and meat product merchant wholesalers loan for $100,000 was given to a Michigan entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $100,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $85,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MEAT AND MEAT PRODUCT MERCHANT WHOLESALERS SBA Loan Lender FIFTH THIRD BANK This lender provides SBA small business 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 424470 - Meat and Meat Product Merchant Wholesalers Loan Approval Date 10/31/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 20 employees. The loan application indicated that the loan would help generate 20 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Banks in Grand Rapids, Michigan
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