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November 25, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Manistique, Business Loans > Mbank Manistique Business Loans > Recreational Vehicle Parks And Campsites Loan | ||||
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Mbank Germfask
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Mbank SBA Loan to Recreational Vehicle Parks And Campsites CompanyMbank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. Getting a small business loan in Germfask, Michigan was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Mbank, operating out of Manistique, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: RECREATIONAL VEHICLE PARKS AND CAMPSITES SBA Loan Lender MBANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7033 - Recreational Vehicle Parks and Campsites NAICS Code 721211 - RV Parks and Campgrounds Loan Approval Date 5/5/2000 Loan Approval Gross Amount $330,000 Loan Approval from the SBA Of the total $330,000 loan amount, the SBA guaranteed $247,500. 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 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you need business start up money in Germfask MI, you ought to talk with a local Germfask SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Germfask businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Approved Banks in Manistique, Michigan
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