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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Eagle River, Business Loans > M&i Marshall & Ilsley Bank Eagle River Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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Requirements for Businesses On Getting a Loan
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Commercial and Institutional Building Construction LoansLooking for loans for commercial and institutional building construction? An SBA loan may be just what you've been looking for. This $30,000 commercial and institutional building construction loan was issued by a Wisconsin bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Watersmeet, Michigan was able to borrow $30,000 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $25,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender M&I MARSHALL & ILSLEY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 2/14/2001 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Best Banks for Small Business in Eagle River, Wisconsin
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