Michigan Bank Loan Issued to Support Activities For Animal Production Company

Bank loans in Michigan are tough to come by these days. We take a look at one Michigan bank loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Sands Township, Michigan was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wisconsin Community Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ANIMAL PRODUCTION
SANDS TOWNSHIP, MI 49855

SBA Loan Lender

WISCONSIN COMMUNITY BANK
4706 S TAYLOR DR
SHEBOYGAN, WI 53081

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115210 - Support Activities for Animal Production

Loan Approval Date

6/14/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 only one employee. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wisconsin Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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