Business Loan from Peninsula Bank - Ishpening Given to Limited-Service Restaurants Company

Peninsula Bank - Ishpening has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

Getting a small business loan in Marquette, Michigan was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Peninsula Bank - Ishpening, operating out of Ishpeming, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MARQUETTE, MI 49855

SBA Loan Lender

PENINSULA BANK - ISHPENING
100 S MAIN ST
ISHPEMING, MI 49849

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/29/2005

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 22 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Marquette MI, you ought to talk with a local Marquette SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Marquette businesses.

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 Peninsula Bank - Ishpening 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.

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