Escanaba, Michigan Lender Lends Money to Drinking Places Company

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

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

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ESCANABA, MI 49829

SBA Loan Lender

WELLS FARGO BANK
1205 LUDINGTON ST
ESCANABA, MI 49829

This was a Low Documentation SBA loan. The SBA launched this program to minimize 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.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$92,500

Loan Approval from the SBA

Of the total $92,500 loan amount, the SBA guaranteed $74,000.

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 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $92,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA Approved Banks in Escanaba, Michigan

SBA Participating Banks in Michigan