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November 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Columbus, Business Loans > Irwin Union Bank & Trust Columbus Business Loans > Nursing Care Facilities Loan | ||||
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Getting an SBA Loan in Traverse City, Michigan
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Irwin Union Bank & Trust Gives Bank Loan to Nursing Care Facilities CompanyBank loans in Michigan are are few and far betweeen these days. We take a look at one Michigan bank loan, provided by an Indiana bank, that was approved by the SBA. Getting a small business loan in Traverse City, Michigan was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Irwin Union Bank & Trust. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: NURSING CARE FACILITIES SBA Loan Lender IRWIN UNION BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623110 - Nursing Care Facilities Loan Approval Date 9/23/2002 Loan Approval Gross Amount $1,700,000 Loan Approval from the SBA Of the total $1,700,000 loan amount, the SBA guaranteed $999,940. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 $1,700,000 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: A Company That Helps Entrepreneurs Best Columbus, Indiana Banks for Small Business
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