Auburn Hills, Michigan Business Gets SBA-Guaranteed Funding from Oakland Commerce Bank

Oakland Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Auburn Hills, Michigan was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Oakland Commerce Bank, operating out of Farmington Hills, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY
AUBURN HILLS, MI 48326

SBA Loan Lender

OAKLAND COMMERCE BANK
31731 NORTHWESTERN HWY
FARMINGTON HILLS, MI 48334

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

2/28/2007

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Oakland 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.

Related Links:

Business Credit Evaluation

SBA 7A Banks for Farmington Hills, Michigan Loans

Where to Get an SBA Loan Michigan