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May 19, 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 > Homefurnishings Stores Loan | ||||
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Grand Rapids, Michigan Bank for SBA Loans
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Grand Rapids, Michigan Lender Lends Money to Homefurnishings Stores CompanyThinking about meeting with a Grand Rapids, Michigan bank about a business loan? Here's one Michigan 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 firm in Grand Rapids, Michigan. They received an SBA loan for $90,000. Nice! SBA Loan Borrower COMPANY TYPE: HOMEFURNISHINGS STORES SBA Loan Lender FIFTH THIRD BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5719 - Homefurnishings Stores Loan Approval Date 6/1/2000 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $72,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $90,000 loan. Remember, if it to be, it is up to me! 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Grand Rapids, Michigan
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