Get an SBA Loan for Fish and Seafood Wholesalers

Looking for bank loans for fish and seafood wholesalers? Talk to a banker who works with the SBA. This $433,500 fish and seafood wholesalers loan was issued by a Michigan bank.

This company knew how to go about getting a business bank loan. Based in Saint Ignace, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Old Mission Bank, based in Sault Sainte Marie, Michigan.

SBA Loan Borrower

COMPANY TYPE: FISH AND SEAFOODS
SAINT IGNACE, MI 49781

SBA Loan Lender

OLD MISSION BANK
2701 I-75 BUSINESS SPUR
SAULT SAINTE MARIE, MI 49783

This lender issued this bank 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.

SIC Code

5146 - Fish and Seafoods

NAICS Code

422460 - Fish and Seafood Wholesalers

Loan Approval Date

9/21/2000

Loan Approval Gross Amount

$433,500

Loan Approval from the SBA

Of the total $433,500 loan amount, the SBA guaranteed $251,430.

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 6 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Old Mission Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

SBA Banks in Sault Sainte Marie, Michigan

Getting an SBA Loan in Michigan