Michigan Business Loan Issued to Podiatrists Company

Searching for a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by a Wisconsin bank that works with the SBA to help small business owners.

This business, based in Menominee, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Stephenson National Bank & Tr. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PODIATRISTS
MENOMINEE, MI 49858

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621391 - Podiatrists

Loan Approval Date

5/6/2004

Loan Approval Gross Amount

$149,985

Loan Approval from the SBA

Of the total $149,985 loan amount, the SBA guaranteed $127,487.

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

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

SBIR Funding

Best Banks in Marinette, Wisconsin

Wisconsin SBA Banks