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May 13, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Perishable Prepared Food Manufacturing Loan | ||||
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Livonia SBA Loans
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Livonia, Michigan Entrepreneur Gets a Bank LoanSBA loans in Michigan are tough to come by these days. We take a look at one Michigan SBA loan, provided by a Texas bank, that was approved by the SBA. By giving the right information to Comerica Bank, this Livonia, Michigan business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PERISHABLE PREPARED FOOD MANUFACTURING SBA Loan Lender COMERICA BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311991 - Perishable Prepared Food Manufacturing Loan Approval Date 6/15/2006 Loan Approval Gross Amount $1,525,000 Loan Approval from the SBA Of the total $1,525,000 loan amount, the SBA guaranteed $1,143,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find business people willing to loan money, 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: Determining Proper Capital Structure for a Business
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