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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Southfield, Business Loans > First Place Bank Southfield Business Loans > Computer Systems Design Services Loan | ||||
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Michigan SBA Lenders
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Southfield, Michigan Bank Lends Money to Computer Systems Design Services Company in Livonia, MichiganWant to talk with a Southfield, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Southfield bank, that was approved by the SBA. Applying for an SBA loan with First Place Bank worked out well for our friends at one local business in Livonia, Michigan. The business was able to get an SBA loan for $350,000. Awesome! SBA Loan Borrower COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES SBA Loan Lender FIRST PLACE BANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541512 - Computer Systems Design Services Loan Approval Date 7/19/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 139 employees. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 139 existing jobs. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Place Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Place Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Getting Venture Capital SBA Banks in Southfield, Michigan Getting a Business Loan in Michigan
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