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May 15, 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 > Automotive Oil Change And Lubrication Shops Loan | ||||
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Small Business Banks for Muskegon, Michigan Business Owners
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Where to Get Capital for Automotive Oil Change and Lubrication ShopsLooking for small business loans for automotive oil change and lubrication shops? Talk to a banker who works with the SBA. This $241,000 automotive oil change and lubrication shops loan was issued by a Michigan bank. This small firm knew how to go about getting a business bank loan. Based in Muskegon, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS SBA Loan Lender FIFTH THIRD BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811191 - Automotive Oil Change and Lubrication Shops Loan Approval Date 3/11/2003 Loan Approval Gross Amount $241,000 Loan Approval from the SBA Of the total $241,000 loan amount, the SBA guaranteed $180,750. 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 9 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company. 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: Find an SBA Lender in Grand Rapids, Michigan
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