Sault Sainte Marie, Michigan Bank Lends Money to Digital Printing Company in Sault Ste. Marie, Michigan

Thinking about meeting with a Sault Sainte Marie, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Sault Sainte Marie bank, that was approved by the SBA.

Applying for an SBA loan with Old Mission Bank worked out well for our friends at one local company in Sault Ste. Marie, Michigan. They got an SBA loan for $54,500. Nice!

SBA Loan Borrower

COMPANY TYPE: DIGITAL PRINTING
SAULT STE. MARIE, MI 49783

SBA Loan Lender

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

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

323115 - Digital Printing

Loan Approval Date

3/15/2006

Loan Approval Gross Amount

$54,500

Loan Approval from the SBA

Of the total $54,500 loan amount, the SBA guaranteed $27,250.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Old Mission Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Financing Your Business

Where to Get an SBA Loan in Sault Sainte Marie, Michigan

Getting an SBA Loan in Michigan