Traverse City, Michigan Bank Gives SBA Loan to Lawyers Company

Get to know Traverse City, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Northwestern Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Traverse City, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Northwestern Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
TRAVERSE CITY, MI 49686

SBA Loan Lender

NORTHWESTERN BANK
625 S GARFIELD
TRAVERSE CITY, MI 49686

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541110 - Lawyers

Loan Approval Date

3/16/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Northwestern Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Obtaining Funding - Friends and Family

Small Business Banks in Traverse City, Michigan

Getting an SBA Loan in Michigan