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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Saint Clair, Business Loans > Seaway Community Bank Saint Clair Business Loans > Child Day Care Services Loan | ||||
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Saint Clair, Michigan SBA Lenders
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Saint Clair, Michigan Lender Lends Money to Child Day Care Services CompanyThinking about meeting with a Saint Clair, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Saint Clair bank, that was approved by the SBA. Applying for an SBA loan with Seaway Community Bank worked out well for our friends at one local company in Marine City, Michigan. They got an SBA loan for $23,500. Awesome! SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender SEAWAY COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 12/31/2003 Loan Approval Gross Amount $23,500 Loan Approval from the SBA Of the total $23,500 loan amount, the SBA guaranteed $19,975. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 $23,500 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: How Much Venture Capital Is There? Who Lends Money to Small Businesses in Saint Clair, Michigan
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