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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Columbus, Business Loans > Irwin Union Bank & Trust Columbus Business Loans > Drilling Oil And Gas Wells Loan | ||||
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Banks That Lend to Michigan Business Owners
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Firm Gets a Michigan Business LoanMichiganSmall business loans are available to Michigan small business owners through the SBA. In this case, an Indiana bank provides the loan. By giving the right information to Irwin Union Bank & Trust, this Traverse City, Michigan business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: DRILLING OIL AND GAS WELLS SBA Loan Lender IRWIN UNION BANK & TRUST The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 213111 - Drilling Oil and Gas Wells Loan Approval Date 12/10/2001 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Irwin Union Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Role of Business Plan When Raising Money Who Lends Money to Small Businesses in Columbus, Indiana
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