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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Marinette, Business Loans > Farmers & Merchants Bank & Tr Marinette Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Getting a Small Business Loan from Farmers & Merchants Bank & Tr
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Menominee, Michigan Business Gets SBA-Guaranteed Funding from Farmers & Merchants Bank & TrFarmers & Merchants Bank & Tr has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. Getting a small business loan in Menominee, Michigan was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Farmers & Merchants Bank & Tr, operating out of Marinette, Wisconsin. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender FARMERS & MERCHANTS BANK & TR This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 8/8/2001 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: SBA Participating Banks in Marinette, Wisconsin
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