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May 14, 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 > Motorcycle, Atv, And Personal Watercraft Dealers Loan | ||||
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Michigan SBA Banks
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East Tawas, Michigan Bank Lends Money to Motorcycle, Atv, And Personal Watercraft Dealers Company in Oscoda (sta.), 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 business in Oscoda (sta.), Michigan. The business was able to get an SBA loan for $180,000. Awesome! SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS SBA Loan Lender HURON COMMUNITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 7/8/2005 Loan Approval Gross Amount $180,000 Loan Approval from the SBA Of the total $180,000 loan amount, the SBA guaranteed $90,000. 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 6 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Huron Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Huron Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in East Tawas, Michigan
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