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May 13, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > East Tawas, Business Loans > Huron Community Bank East Tawas Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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East Tawas Lenders
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East Tawas, Michigan Bank Lends Money to Automotive Parts And Accessories Stores Company in Augres, MichiganThinking about meeting with an East Tawas, Michigan bank about a business loan? Here's one Michigan business loan, issued by an East Tawas bank, that was approved by the SBA. Applying for an SBA loan with Huron Community Bank worked out well for our friends at one local company in Augres, Michigan. The business was able to get an SBA loan for $305,300. Great job! SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender HURON COMMUNITY BANK This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 7/23/2002 Loan Approval Gross Amount $305,300 Loan Approval from the SBA Of the total $305,300 loan amount, the SBA guaranteed $228,975. 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 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Small Business Banks in East Tawas, Michigan
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