Grand Rapids, Michigan Bank Lends Money to Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment Company in Fox Lake, Illinois

Thinking about meeting with a Grand Rapids, Michigan bank about a small business loan? Here's one Illinois business loan, issued by a Grand Rapids bank, that was approved by the SBA.

Applying for an SBA loan with Fifth Third Bank worked out well for our friends at one local company in Fox Lake, Illinois. They received an SBA loan for $333,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT
Fox Lake, IL 60020

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This lender provides SBA guaranteed 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

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

8/18/2006

Loan Approval Gross Amount

$333,000

Loan Approval from the SBA

Of the total $333,000 loan amount, the SBA guaranteed $249,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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