Firm Gets a Michigan Business Loan

Small business loans in Michigan are tough to come by these days. We take a look at one Michigan small business loan, provided by a Michigan bank, that was approved by the SBA.

Getting a small business loan in Battle Creek, Michigan was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
BATTLE CREEK, MI 49014

SBA Loan Lender

CHEMICAL BANK
333 E MAIN ST
MIDLAND, MI 48640

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

12/18/2007

Loan Approval Gross Amount

$213,000

Loan Approval from the SBA

Of the total $213,000 loan amount, the SBA guaranteed $106,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Battle Creek MI, you ought to talk with a local Battle Creek SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Battle Creek businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $213,000 loan. Remember, where there is a will, there is a way!

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 Cash Advances

SBA 7A Banks in Midland, Michigan

Getting a Business Loan in Michigan