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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Traverse City, Business Loans > Northwestern Bank Traverse City Business Loans > General Freight Trucking, Local Loan | ||||
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Requirements for Businesses On Getting a Loan
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Borrowing Money for General Freight Trucking, LocalLooking for small business loans for general freight trucking, local? Try the SBA. This $98,000 general freight trucking, local loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Traverse City, Michigan was able to borrow $98,000 from Northwestern Bank. The SBA made the loan possible by guaranteeing $73,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender NORTHWESTERN BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 2/4/2008 Loan Approval Gross Amount $98,000 Loan Approval from the SBA Of the total $98,000 loan amount, the SBA guaranteed $73,500. 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. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Small Bank Loans in Traverse City, Michigan Getting a Business Loan in Michigan
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