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May 13, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > United Bank Of Michigan Grand Rapids Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Raising Money in Hudsonville, Michigan With SBA Loans
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Bank Loans for Automotive Body, Paint, and Interior Repair and MaintenanceLooking for bank loans for automotive body, paint, and interior repair and maintenance? Try the SBA. This $651,900 automotive body, paint, and interior repair and maintenance loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with United Bank Of Michigan, out of Grand Rapids, Michigan. The loan was granted and they received $651,900 to help grow their Hudsonville, Michigan business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender UNITED BANK OF MICHIGAN This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 4/2/2003 Loan Approval Gross Amount $651,900 Loan Approval from the SBA Of the total $651,900 loan amount, the SBA guaranteed $488,925. 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 18 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. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from United Bank Of Michigan so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Grand Rapids, Michigan
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