Business Loan from United Midwest Savings Bank Given to Dentists Company
United Midwest Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with United Midwest Savings Bank, out of De Graff, Ohio. The loan was granted and they received $96,900 to help grow their Michigan Center, Michigan business.
SBA Loan Borrower
COMPANY TYPE: DENTISTS
MICHIGAN CENTER, MI 49254
SBA Loan Lender
UNITED MIDWEST SAVINGS BANK
101 S MAIN ST
DE GRAFF, OH 43318
This lender issued this particular business 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.
NAICS Code
621210 - Dentists
Loan Approval Date
10/9/2003
Loan Approval Gross Amount
$96,900
Loan Approval from the SBA
Of the total $96,900 loan amount, the SBA guaranteed $82,365.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Business Cash Advances
SBA Participating Banks in De Graff, Ohio
Ohio SBA 7A Banks