Manistique, Michigan Bank Lends Money to Bridge, Tunnel, And Elevated Highway Construction Company in Chassell, Michigan

Get to know Manistique, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Mbank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Chassell, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Mbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BRIDGE, TUNNEL, AND ELEVATED HIGHWAY CONSTRUCTION
CHASSELL, MI 49916

SBA Loan Lender

MBANK
130 S CEDAR ST
MANISTIQUE, MI 49854

This was a Low Documentation SBA loan. The SBA launched 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1622 - Bridge, Tunnel, and Elevated Highway Construction

NAICS Code

234120 - Bridge and Tunnel Construction

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$24,000

Loan Approval from the SBA

Of the total $24,000 loan amount, the SBA guaranteed $19,200.

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. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mbank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Raising VC Money for Social Networking Companies

SBA Approved Banks in Manistique, Michigan

Getting an SBA Loan in Michigan