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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 > Janitorial Services Loan | ||||
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Hudsonville, Michigan Bank Loan
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Kent Commerce Bank Gives Small Business Loan to Janitorial Services CompanyMichiganSmall business loans are available to Michigan small business owners through the SBA. In this case, a Michigan bank provides the loan. Getting a small business loan in Hudsonville, Michigan was a top priority for this small company back in 2007 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: JANITORIAL SERVICES SBA Loan Lender KENT COMMERCE BANK This lender provides SBA 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 561720 - Janitorial Services Loan Approval Date 4/27/2007 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 200 employees. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 40 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Participating Banks in Kentwood, Michigan Browse All Business Loan Sources for Michigan
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