Irwin Union Bank & Trust Gives SBA Loan to Bed-And-Breakfast Inns Company

Want a Michigan business loan? This Michigan entrepreneur got a business loan, provided by an Indiana bank that works with the SBA to help small business owners.

This small business, based in Kalamazoo, 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 Irwin Union Bank & Trust. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
KALAMAZOO, MI 49007

SBA Loan Lender

IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

4/20/2004

Loan Approval Gross Amount

$281,000

Loan Approval from the SBA

Of the total $281,000 loan amount, the SBA guaranteed $210,750.

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 2 employees. This SBA loan request 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 are raising money in Kalamazoo MI, you ought to talk with a local Kalamazoo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kalamazoo businesses.

We can help you find the best banks for small businesses in Kalamazoo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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