Where to Get Capital for Secondary Smelting, Refining, and Alloying of Nonferrous Metal

Looking for SBA loans for secondary smelting, refining, and alloying of nonferrous metal? The SBA may be the answer. This $300,000 secondary smelting, refining, and alloying of nonferrous metal loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $300,000 to help grow their Benton Harbor, Michigan business.

SBA Loan Borrower

COMPANY TYPE: SECONDARY SMELTING, REFINING, AND ALLOYING OF NONFERROUS METAL
BENTON HARBOR, MI 49022

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

331492 - Secondary Smelting, Refining, and Alloying of Nonferrous Metal

Loan Approval Date

2/15/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 27 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Benton Harbor MI, you ought to talk with a local Benton Harbor SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Benton Harbor businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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