Growing Company Gets a Michigan Business Loan

Would a Michigan bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.

This company, based in Fenton, 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 Century Bank And Trust. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
FENTON, MI 48430

SBA Loan Lender

CENTURY BANK AND TRUST
100 W CHICAGO ST
COLDWATER, MI 49036

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

611620 - Sports and Recreation Instruction

Loan Approval Date

4/21/2006

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $112,500.

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 documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Fenton MI, you ought to talk with a local Fenton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fenton businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Century Bank And Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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