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May 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Petoskey, Business Loans > The Bank Of Northern Michigan Petoskey Business Loans > Dentists Loan | ||||
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MI SBA Loan from The Bank Of Northern Michigan
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The Bank Of Northern Michigan SBA Loan to Dentists CompanyThe Bank Of Northern Michigan is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Bank Of Northern Michigan, out of Petoskey, Michigan. The loan was granted and they received $200,000 to help grow their Boyne City, Michigan business. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender THE BANK OF NORTHERN MICHIGAN SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621210 - Dentists Loan Approval Date 4/20/2004 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 7 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $200,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Getting an SBA Loan in Michigan
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