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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Sault Sainte Marie, Business Loans > Old Mission Bank Sault Sainte Marie Business Loans > Offices And Clinics Of Chiropractors Loan | ||||
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How to Get SBA Loans in Sault Ste Marie, Michigan
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Getting an SBA Loan for ChiropractorsWith these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $60,000 was given to a Michigan entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sault Ste Marie, Michigan was able to borrow $60,000 from Old Mission Bank. The SBA made the loan possible by guaranteeing $51,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender OLD MISSION BANK This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 2/7/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. While you may be able to find business people willing to loan money, 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. Related Links: Banking Deregulation's Effects on Entrepreneurship Where to Get an SBA Loan in Sault Sainte Marie, Michigan
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