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May 18, 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 > Dance Studios, Schools, And Halls Loan | ||||
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Michigan Bank SBA Loans
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Fifth Third Bank SBA Loan to Dance Studios, Schools, And Halls CompanySearching for a Michigan SBA loan? Here's one Michigan business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Novi, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS SBA Loan Lender FIFTH THIRD BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7911 - Dance Studios, Schools, and Halls Loan Approval Date 6/6/2000 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $18,000. 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 3 employees. The loan application indicated that the borrowed money would help generate 3 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $36,000. How would you spend $36,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Grand Rapids, Michigan
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