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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Houghton, Business Loans > Wells Fargo Bank Houghton Business Loans > Eating Places Loan | ||||
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Michigan Bank SBA Loans
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Wells Fargo Bank SBA Loan to Eating Places CompanySearching for a Michigan small business 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 Houghton, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Houghton, Michigan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender WELLS FARGO BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 4/26/2000 Loan Approval Gross Amount $61,581 Loan Approval from the SBA Of the total $61,581 loan amount, the SBA guaranteed $49,264. 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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Participating Banks in Houghton, Michigan
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