Three Rivers, Michigan Business Gets SBA-Guaranteed Funding from Portage Commerce Bank

An SBA loan from Portage Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Three Rivers, Michigan business owner got a $310,000 loan.

This business knew how to go about getting a business bank loan. Based in Three Rivers, Michigan, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Portage Commerce Bank, based in Portage, Michigan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
THREE RIVERS, MI 49093

SBA Loan Lender

PORTAGE COMMERCE BANK
800 E MILHAM
PORTAGE, MI 49002

This debt financing 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

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/5/2003

Loan Approval Gross Amount

$310,000

Loan Approval from the SBA

Of the total $310,000 loan amount, the SBA guaranteed $232,500.

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 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $310,000 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:

Getting a Small Business Loan

Small Business Banks in Portage, Michigan

Find an SBA Lender in Michigan