SBA Loan from Monroe Bank & Trust Helps Child Day Care Services Company
Monroe Bank & Trust 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.
Getting a small business loan in Monroe, Michigan was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Monroe Bank & Trust, operating out of Monroe, Michigan. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: CHILD DAY CARE SERVICES
MONROE, MI 48161
SBA Loan Lender
MONROE BANK & TRUST
102 E FRONT ST
MONROE, MI 48161
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
624410 - Child Day Care Services
Loan Approval Date
9/15/2004
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 18 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
If you need money to start business in Monroe MI, you ought to talk with a local Monroe SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Monroe businesses.
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.
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