Marinette, Wisconsin Bank Lends Money to Ferries Company in Menominee, Michigan

A Marinette, Wisconsin small business loan can be yours. Learn how a company got a $617,500 business loan from this Wisconsin bank.

This loan to a local firm is a good example of an SBA loan. Stephenson National Bank & Tr made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FERRIES
MENOMINEE, MI 49858

SBA Loan Lender

STEPHENSON NATIONAL BANK & TR
1820 HALL AVE
MARINETTE, WI 54143

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4482 - Ferries

NAICS Code

483212 - Inland Water Passenger Water Transportation

Loan Approval Date

12/15/2006

Loan Approval Gross Amount

$617,500

Loan Approval from the SBA

Of the total $617,500 loan amount, the SBA guaranteed $463,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Stephenson National Bank & Tr and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

Where to Get an SBA Loan in Marinette, Wisconsin

Wisconsin SBA 7A Banks