1st National Bank & Trust - Iron Mo SBA Loan to Lumber And Other Building Materials Dealer Company

Searching for a Michigan business loan? Here's one Michigan business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Kingsford, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank & Trust - Iron Mo, based in Iron Mountain, Michigan.

SBA Loan Borrower

COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER
KINGSFORD, MI 49802

SBA Loan Lender

1ST NATIONAL BANK & TRUST - IRON MO
233 S STEPHENSON AVE
IRON MOUNTAIN, MI 49801

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5211 - Lumber and Other Building Materials Dealer

NAICS Code

421310 -

Loan Approval Date

6/29/2000

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $1,200,000. How would you spend $1,200,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Iron Mountain, Michigan

Getting an SBA Loan in Michigan