Local Business Gets a Michigan Bank Loan

MichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a Michigan bank provides the loan.

Getting a small business loan in Saint Johns, Michigan was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Commercial Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
SAINT JOHNS, MI 48879

SBA Loan Lender

COMMERCIAL BANK
301 N STATE ST
ALMA, MI 48801

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

484220 - Specialized Local Freight Trucking

Loan Approval Date

8/3/2004

Loan Approval Gross Amount

$120,600

Loan Approval from the SBA

Of the total $120,600 loan amount, the SBA guaranteed $60,300.

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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, 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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