Montgomery, Michigan Entrepreneur Gets an SBA Loan

Would a Michigan business loan help your company expand? If so, you may want to talk with this Indiana bank, which offers SBA loans to Michigan entrepreneurs.

You can learn something about getting a small business loan in Montgomery, Michigan by studying this loan to a local business, made back in 2005. Banks like Star Financial Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS
MONTGOMERY, MI 49255

SBA Loan Lender

STAR FINANCIAL BANK
127 W BERRY ST
FORT WAYNE, IN 46802

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

321113 - Sawmills

Loan Approval Date

8/30/2005

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Montgomery MI, you ought to talk with a local Montgomery SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montgomery businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Star Financial Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Fort Wayne, Indiana

SBA Lenders in Indiana