Central State Bank SBA Loan to Insurance Agents And Brokers Company

Searching for a Michigan SBA loan? Here's one Michigan business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Benzonia, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Central State Bank, based in Beulah, Michigan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
BENZONIA, MI 49616

SBA Loan Lender

CENTRAL STATE BANK
49 BENZIE BLVD
BEULAH, MI 49617

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

Loan Approval Date

8/30/2000

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Central State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Central State Bank 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:

Small Business Credit Cards

Find an SBA Lender in Beulah, Michigan

SBA Participating Banks in Michigan