Where to Get Capital for Meat and Meat Product Merchant Wholesalers

With these SBA loans for meat and meat product merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This meat and meat product merchant wholesalers loan for $58,500 was given to a Michigan entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vicksburg, Michigan was able to borrow $58,500 from Portage Commerce Bank. The SBA made the loan possible by guaranteeing $49,725 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MEAT AND MEAT PRODUCT MERCHANT WHOLESALERS
VICKSBURG, MI 49097

SBA Loan Lender

PORTAGE COMMERCE BANK
800 E MILHAM
PORTAGE, MI 49002

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424470 - Meat and Meat Product Merchant Wholesalers

Loan Approval Date

5/20/2005

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $49,725.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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