East Tawas, Michigan Lender Lends Money to Carpet And Upholstery Cleaning Services Company

Want to talk with an East Tawas, Michigan bank about a business loan? Here's one Michigan business loan, issued by an East Tawas bank, that was approved by the SBA.

Applying for an SBA loan with Huron Community Bank worked out well for our friends at one local business in Oscoda, Michigan. They got an SBA loan for $15,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CARPET AND UPHOLSTERY CLEANING SERVICES
OSCODA, MI 48750

SBA Loan Lender

HURON COMMUNITY BANK
301 N NEWMAN
EAST TAWAS, MI 48730

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

11/20/2007

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 1 existing job.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Huron Community Bank and they will explain how you can get an SBA loan for your company.

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 Credit Evaluation

Small Bank Loans in East Tawas, Michigan

SBA Lenders in Michigan