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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Mercantile Bank Of Michigan Grand Rapids Business Loans > Individual And Family Services Loan | ||||
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Grand Rapids Bank Loan
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Grand Rapids, Michigan Bank Lends Money to Individual And Family Services Company in Grandville, MichiganFind Grand Rapids, Michigan banks that specialize in business loans and know how to work with entrepreneurs. Mercantile Bank Of Michigan is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Grandville, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Mercantile Bank Of Michigan. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES SBA Loan Lender MERCANTILE BANK OF MICHIGAN This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624190 - Individual and Family Services Loan Approval Date 10/12/2004 Loan Approval Gross Amount $115,372 Loan Approval from the SBA Of the total $115,372 loan amount, the SBA guaranteed $98,066. 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 15 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks for Grand Rapids, Michigan Loans Where to Get an SBA Loan Michigan
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