SBA Loan from Huron Community Bank Helps Hotels And Motels Company

An SBA loan from Huron Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tawas City, Michigan business owner got a $189,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Tawas City, Michigan, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Huron Community Bank, based in East Tawas, Michigan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
TAWAS CITY, MI 48763

SBA Loan Lender

HURON COMMUNITY BANK
301 N NEWMAN
EAST TAWAS, MI 48730

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/31/2007

Loan Approval Gross Amount

$189,000

Loan Approval from the SBA

Of the total $189,000 loan amount, the SBA guaranteed $141,750.

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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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