Entrepreneur Works With Kentwood, Michigan Bank to Get an SBA Loan

Want to talk with a Kentwood, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Kentwood bank, that was approved by the SBA.

Applying for an SBA loan with Kent Commerce Bank worked out well for our friends at one local firm in Alto, Michigan. They received an SBA loan for $500,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: STEEL WORKS, BLAST FURNACES AND ROLLING MILLS
ALTO, MI 49302

SBA Loan Lender

KENT COMMERCE BANK
4050 LAKE DR SE
KENTWOOD, MI 49546

This lender issued this SBA business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3312 - Steel Works, Blast Furnaces and Rolling Mills

Loan Approval Date

8/8/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Kent Commerce Bank and they will explain how you can get an SBA loan for your company.

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.

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Who Lends Money to Small Businesses in Kentwood, Michigan

Michigan SBA 7A Banks