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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Retail Bakeries Loan | ||||
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Livonia, Michigan Bank for SBA Loans
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Baked Goods Stores Small Business LoansWith these small business loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $119,000 was given to a Michigan entrepreneur in 2002. This small firm knew how to go about getting a business bank loan. Based in Livonia, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender FIFTH THIRD BANK This lender issued this particular bank 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 5461 - Retail Bakeries NAICS Code 445291 - Baked Goods Stores Loan Approval Date 10/15/2002 Loan Approval Gross Amount $119,000 Loan Approval from the SBA Of the total $119,000 loan amount, the SBA guaranteed $101,150. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 - How to Decide How Much to Raise Small Business Banks in Grand Rapids, Michigan
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