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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 > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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Michigan Small Business Funding
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Where to Get Capital for Physical, Occupational and Speech Therapists, and AudiologistsWith these SBA loans for physical, occupational and speech therapists, and audiologists, the SBA guarantees the lender that the loan will be repaid. This physical, occupational and speech therapists, and audiologists loan for $350,000 was given to a Michigan entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sault Ste. Marie, Michigan was able to borrow $350,000 from Old Mission Bank. The SBA made the loan possible by guaranteeing $175,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS 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 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 6/13/2005 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $350,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Good Banks for Small Business in Sault Sainte Marie, Michigan
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