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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Manistique, Business Loans > Mbank Manistique Business Loans > Supermarkets And Grocery Stores Loan | ||||
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Mbank Small Business Suttons Bay
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SBA Loan from Mbank Helps Supermarkets And Grocery Stores CompanyMbank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Suttons Bay, Michigan, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Mbank, based in Manistique, Michigan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender MBANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 5/17/2007 Loan Approval Gross Amount $895,000 Loan Approval from the SBA Of the total $895,000 loan amount, the SBA guaranteed $671,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower indicated that the loan would help retain 40 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Advice on Getting a Small Business Loan SBA 7A Banks in Manistique, Michigan
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