SBA Loan from Mercantile Bank Of Michigan Helps Convenience Stores Company

An SBA loan from Mercantile Bank Of Michigan typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Jenison, Michigan business owner got a $300,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jenison, Michigan was able to borrow $300,000 from Mercantile Bank Of Michigan. The SBA made the loan possible by guaranteeing $225,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
JENISON, MI 49428

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

This SBA small 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.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

How to Raise Money

Small Bank Loans in Grand Rapids, Michigan

Michigan SBA 7A Lenders