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May 3, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Monroe, Business Loans > Monroe Bank & Trust Monroe Business Loans > Musical Instrument And Supplies Stores Loan | ||||
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Monroe Bank & Trust
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Business Loan from Monroe Bank & Trust Given to Musical Instrument And Supplies Stores CompanyMonroe Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Monroe Bank & Trust, out of Monroe, Michigan. The loan was granted and they received $50,000 to help grow their Monroe, Michigan business. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENT AND SUPPLIES STORES SBA Loan Lender MONROE BANK & TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451140 - Musical Instrument and Supplies Stores Loan Approval Date 7/21/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 2 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. We've showcased information on this loan to let you know that businesses like yours 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 7A Banks in Monroe, Michigan
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