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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > New Single-Family Housing Construction Loan | ||||
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SBA 7A Banks in Michigan
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Loans for New Single-Family Housing ConstructionLooking for loans for new single-family housing construction? Try the SBA. This $50,000 new single-family housing construction loan was issued by an Indiana bank. Getting a small business loan in Dowagiac, Michigan was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from 1st Source Bank, operating out of South Bend, Indiana. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender 1ST SOURCE BANK The lender provided this SBA small 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 12/15/2006 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. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Dowagiac or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks in South Bend, Indiana
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