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UNITED STATES v. LOWELL

Nos. 75-2341 and 75-2342.

557 F.2d 70 (1977)

UNITED STATES of America, Plaintiff, Appellee-Cross-Appellant, v. Ben T. LOWELL and Louise D. Lowell, Defendants, Appellants-Cross-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided June 7, 1977.

Attorney(s) appearing for the Case

Mark N. Mutterperl, Washington, D. C., for U. S.

James L. Howlett, Bloomfield Hills, Mich., for Lowell et al.

Before PHILLIPS, Chief Judge, EDWARDS, Circuit Judge, and SILER, District Judge.

SILER, District Judge.

The Interlakes Machine & Tool Co. (Interlakes), a corporation, borrowed $180,000.00 from the Presque Isle Bank, Rogers City, Michigan, with the assistance of the Small Business Administration pursuant to 15 U.S.C. § 631, et seq. In accordance with the agreement contained in an earlier application approved by the Small Business Administration (SBA), Interlakes provided a promissory note with personal guaranties signed by Richard...

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