Saint Clair, Michigan Lender Lends Money to Snack And Nonalcoholic Beverage Bars Company

Want to talk with a Saint Clair, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Saint Clair bank, that was approved by the SBA.

Applying for an SBA loan with Seaway Community Bank worked out well for our friends at one local company in St. Clair, Michigan. They received an SBA loan for $125,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
ST. CLAIR, MI 48079

SBA Loan Lender

SEAWAY COMMUNITY BANK
1960 FRED MOORE HWY
SAINT CLAIR, MI 48079

The lender provided this bank 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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

7/27/2006

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, 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.

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