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May 10, 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 > Meat Markets Loan | ||||
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Michigan Small Business SBA Loans
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Northwestern Bank Gives SBA Loan to Meat Markets CompanyMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a Michigan bank provides the loan. Getting a small business loan in Traverse City, Michigan was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Northwestern Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MEAT MARKETS SBA Loan Lender NORTHWESTERN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445210 - Meat Markets Loan Approval Date 5/27/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 9 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, fight for what you want, and it will be yours! 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: Dealing With Venture Capitalists SBA 7A Lenders in Traverse City, Michigan
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