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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Saint Ignace, Business Loans > 1st National Bank - St. Ignace Saint Ignace Business Loans > Rv Parks And Campgrounds Loan | ||||
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1st National Bank - St. Ignace
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Hessel, Michigan Business Gets SBA-Guaranteed Funding from 1st National Bank - St. Ignace1st National Bank - St. Ignace 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hessel, Michigan was able to borrow $68,000 from 1st National Bank - St. Ignace. The SBA made the loan possible by guaranteeing $57,800 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: RV PARKS AND CAMPGROUNDS SBA Loan Lender 1ST NATIONAL BANK - ST. IGNACE 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 721211 - RV Parks and Campgrounds Loan Approval Date 3/7/2005 Loan Approval Gross Amount $68,000 Loan Approval from the SBA Of the total $68,000 loan amount, the SBA guaranteed $57,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient 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? If you are raising money in Hessel MI, you ought to talk with a local Hessel SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hessel businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Dealing With Venture Capitalists Best Saint Ignace, Michigan Banks for Small Business Where to Get an SBA Loan Michigan
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