 |
 |
May 11, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Michigan Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Framing Contractors Loan | ||||
 |
||||
How to Get an SBA 7A Loan in Sterling Heights, Michigan
|
||||
 |
Local Business Gets a Michigan SBA LoanMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a Virginia bank provides the loan. Getting a small business loan in Sterling Heights, Michigan was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FRAMING CONTRACTORS SBA Loan Lender CAPITAL ONE This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238130 - Framing Contractors Loan Approval Date 8/12/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are working on finding money to start a business in Sterling Heights MI, you ought to talk with a local Sterling Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sterling Heights businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Good Banks for Small Business in Mclean, Virginia
|
|
||
|
||||
|
|
||||