 |
 |
May 11, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Michigan Business Loan Sources > Holland, Business Loans > Macatawa Bank Holland Business Loans > Packaging And Labeling Services Loan | ||||
 |
||||
Spring Lake, Michigan Bank for SBA Loans
|
||||
 |
Spring Lake, Michigan Entrepreneur Gets an SBA LoanMichiganSmall business loans are available to Michigan small business owners through the SBA. In this case, a Michigan bank provides the loan. By giving the right information to Macatawa Bank, this Spring Lake, Michigan business was able to get an SBA loan. To get this loan, the loan applicant 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: PACKAGING AND LABELING SERVICES SBA Loan Lender MACATAWA BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561910 - Packaging and Labeling Services Loan Approval Date 2/15/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Macatawa Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Banks in Holland, Michigan
|
|
||
|
||||
|
|
||||