Business Loan from Old Mission Bank Given to Coastal And Great Lakes Passenger Transportation Company

An SBA loan from Old Mission Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sault Ste. Marie, Michigan business owner got a $50,000 loan.

Getting a small business loan in Sault Ste. Marie, Michigan was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Old Mission Bank, operating out of Sault Sainte Marie, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: COASTAL AND GREAT LAKES PASSENGER TRANSPORTATION
SAULT STE. MARIE, MI 49783

SBA Loan Lender

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

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

483114 - Coastal and Great Lakes Passenger Transportation

Loan Approval Date

3/11/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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