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May 16, 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 > Drinking Places Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Where to Get Capital for Drinking PlacesLooking for small business loans for drinking places? The SBA may be the answer. This $60,000 drinking places loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muskegon, Michigan was able to borrow $60,000 from Fifth Third Bank. The SBA made the loan possible by guaranteeing $30,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender FIFTH THIRD BANK The lender provided this commercial loan 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 722410 - Drinking Places Loan Approval Date 10/14/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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 6 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Fifth Third Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Borrow Money SBA 7A Lenders in Grand Rapids, Michigan
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