Seaway Community Bank Gives SBA Loan to Services For The Elderly And Persons With Disabilities Company

MichiganSBA loans are available to Michigan entrepreneurs through the SBA. In this case, a Michigan bank provides the loan.

This company, based in Algonac, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Seaway Community Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
ALGONAC, MI 48001

SBA Loan Lender

SEAWAY COMMUNITY BANK
1960 FRED MOORE HWY
SAINT CLAIR, MI 48079

The lender provided this debt financing 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

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

9/4/2007

Loan Approval Gross Amount

$118,900

Loan Approval from the SBA

Of the total $118,900 loan amount, the SBA guaranteed $59,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Algonac MI, you ought to talk with a local Algonac SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Algonac businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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