First Community Bank SBA Loan to Ice Cream And Frozen Desserts Company

An SBA loan from First Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mackinaw, Michigan business owner got a $90,000 loan.

Getting a small business loan in Mackinaw, Michigan was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank, operating out of Harbor Springs, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERTS
MACKINAW, MI 49701

SBA Loan Lender

FIRST COMMUNITY BANK
200 E MAIN ST
HARBOR SPRINGS, MI 49740

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2024 - Ice Cream and Frozen Desserts

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

3/1/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 23 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $90,000 loan. Remember, anyone can do it... so why not 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.

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First Community Bank SBA Loan to Ice Cream And Frozen Desserts Company