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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Traverse City, Business Loans > Northwestern Bank Traverse City Business Loans > Food Service Contractors Loan | ||||
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Traverse City, Michigan Bank Loan
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Traverse City, Michigan Entrepreneur Gets an SBA LoanLooking to get a Michigan business loan? This Michigan entrepreneur got a business loan, provided by a Michigan bank that works with the SBA to help small business owners. This company, based in Traverse City, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Northwestern Bank. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FOOD SERVICE CONTRACTORS SBA Loan Lender NORTHWESTERN 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 722310 - Food Service Contractors Loan Approval Date 3/28/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 25 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 25 existing jobs. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Find an SBA Lender in Traverse City, Michigan Getting an SBA Loan in Michigan
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