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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Traverse City, Business Loans > Mbank Traverse City Business Loans > Gasoline Stations With Convenience Stores Loan | ||||
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Banks in Traverse City, Michigan That Make SBA Loans
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Traverse City, Michigan Bank Lends Money to Gasoline Stations With Convenience Stores Company in East Jordan, MichiganFind Traverse City, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Mbank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in East Jordan, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Mbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES SBA Loan Lender MBANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 6/12/2007 Loan Approval Gross Amount $1,210,000 Loan Approval from the SBA Of the total $1,210,000 loan amount, the SBA guaranteed $907,500. 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 16 employees. The SBA loan application for the borrower indicated that the loan would help retain 16 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Who Lends Money to Small Businesses in Traverse City, Michigan
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