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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Manistique, Business Loans > Mbank Manistique Business Loans > Floor Covering Stores Loan | ||||
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Manistique, Michigan SBA Lenders
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Manistique, Michigan Bank Lends Money to Floor Covering Stores Company in Marquette, MichiganWant to talk with a Manistique, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Manistique bank, that was approved by the SBA. Applying for an SBA loan with Mbank worked out well for our friends at one local firm in Marquette, Michigan. They got an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender MBANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5713 - Floor Covering Stores NAICS Code 442210 - Floor Covering Stores Loan Approval Date 3/8/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mbank and they will explain how you can get an SBA loan for your company. 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: A Company That Helps Entrepreneurs
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