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May 11, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Sault Sainte Marie, Business Loans > Old Mission Bank Sault Sainte Marie Business Loans > Information Services Loan | ||||
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Who Lends Money to Sault Ste. Marie Small Businesses
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Growing Company Gets a Michigan Business LoanMichiganBank loans are available to Michigan firms through the SBA. In this case, a Michigan bank provides the loan. By giving the right information to Old Mission Bank, this Sault Ste. Marie, Michigan business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: INFORMATION SERVICES SBA Loan Lender OLD MISSION BANK This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 519190 - Information Services Loan Approval Date 12/7/2006 Loan Approval Gross Amount $133,600 Loan Approval from the SBA Of the total $133,600 loan amount, the SBA guaranteed $66,800. 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. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $133,600 loan. Remember, you control your own destiny. 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: Small Business Banks in Sault Sainte Marie, Michigan
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