Hancock, Michigan Bank Gives SBA Loan to Hotels And Motels Company

Get SBA loans from a Hancock, Michigan bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Superior National Bank & Trust is a Hancock, Michigan small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
HOUGHTON, MI 49931

SBA Loan Lender

SUPERIOR NATIONAL BANK & TRUST
235 QUINCY ST
HANCOCK, MI 49930

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/14/2002

Loan Approval Gross Amount

$828,000

Loan Approval from the SBA

Of the total $828,000 loan amount, the SBA guaranteed $621,000.

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 93 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Bank Credit Lines

Small Business Banks in Hancock, Michigan

Michigan SBA Banks