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Central Savings Bank

SAULT SAINTE MARIE, MI 49783

8
Loans Approved
$4.9M
Total Volume
$618K
Avg Loan Size
1
States Served

States Served

Michigan

Top Industries Financed

  • Funeral Homes and Funeral Services
  • Electrical Contractors
  • Flooring Contractors
  • Automotive Parts and Accessories Stores
  • Supermarkets and Other Grocery (except Convenience) Stores

Quick Summary

Central Savings Bank is an SBA-approved lender headquartered in SAULT SAINTE MARIE, Michigan. Since 2020, they have approved 8 SBA 7(a) loans totaling $4.9M, with an average loan size of $618K. They primarily serve Michigan businesses.

About Central Savings Bank

Central Savings Bank is an SBA-approved lender headquartered in SAULT SAINTE MARIE, Michigan. Since 2020, they have approved 8 SBA 7(a) loans totaling $4.9M, with an average loan size of $618K. They primarily serve businesses in Michigan.

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Helpful SBA Borrower Guides

SBA 7(a) RequirementsDocuments ChecklistHow to Choose a Lender

Frequently Asked Questions

Is Central Savings Bank an SBA Preferred Lender?

Central Savings Bank is an SBA-approved lender but does not currently hold Preferred Lender (PLP) status. Loan approvals require standard SBA review, which typically adds 2–4 weeks to the process.

How many SBA loans has Central Savings Bank approved?

According to SBA FOIA public records, Central Savings Bank has approved 8 SBA 7(a) loans totaling $4.9M since 2020. Their average loan size is $618K.

What states does Central Savings Bank serve?

Central Savings Bank primarily serves businesses in Michigan.

How do I apply for an SBA loan with Central Savings Bank?

To apply for an SBA 7(a) loan with Central Savings Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.

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