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May 11, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > United Bank Of Michigan Grand Rapids Business Loans > Car Washes Loan | ||||
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SBA 7A Banks for Small Businesses in Michigan
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Spring Lake, Michigan Entrepreneur Gets a Business LoanSBA loans in Michigan are hard to find these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA. Getting a small business loan in Spring Lake, Michigan was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from United Bank Of Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender UNITED BANK OF MICHIGAN 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 811192 - Car Washes Loan Approval Date 3/15/2007 Loan Approval Gross Amount $1,007,000 Loan Approval from the SBA Of the total $1,007,000 loan amount, the SBA guaranteed $755,250. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank Of Michigan had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank Of Michigan made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Grand Rapids, Michigan Banks for Small Business
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