SBA Loan from Superior National Bank & Trust Helps Logging Company

Superior National Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Mohawk, Michigan, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Superior National Bank & Trust, based in Hancock, Michigan.

SBA Loan Borrower

COMPANY TYPE: LOGGING
MOHAWK, MI 49945

SBA Loan Lender

SUPERIOR NATIONAL BANK & TRUST
235 QUINCY ST
HANCOCK, MI 49930

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.

SIC Code

2411 - Logging

NAICS Code

113310 - Logging

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$137,600

Loan Approval from the SBA

Of the total $137,600 loan amount, the SBA guaranteed $103,200.

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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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