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May 12, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Kentwood, Business Loans > Kent Commerce Bank Kentwood Business Loans > Schools And Educational Services Loan | ||||
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How to Get Commercial Loans in Grand Rapids, Michigan
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Grand Rapids, Michigan Entrepreneur Gets a Business LoanSBA loans in Michigan are tough to come by these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA. Getting a small business loan in Grand Rapids, Michigan was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Kent Commerce Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES SBA Loan Lender KENT COMMERCE BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8299 - Schools and Educational Services NAICS Code 611691 - Exam Preparation and Tutoring Loan Approval Date 6/30/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $75,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Good Banks for Small Business in Kentwood, Michigan
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