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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 > Household Appliance Stores Loan | ||||
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Sault Ste. Marie SBA Loans
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Sault Ste. Marie, Michigan Entrepreneur Gets a Business LoanMichiganBusiness 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 Sault Ste. Marie, Michigan was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Old Mission Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD APPLIANCE STORES SBA Loan Lender OLD MISSION BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 443111 - Household Appliance Stores Loan Approval Date 12/7/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Sault Ste. Marie or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA Approved Banks in Sault Sainte Marie, Michigan
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