Getting an SBA Loan for Machine Tool Manufacturing

Looking for SBA loans for machine tool manufacturing? An SBA loan may be just what you've been looking for. This $62,000 machine tool manufacturing loan was issued by a Michigan bank.

This business knew how to go about getting a business bank loan. Based in Caledonia, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was United Bank Of Michigan, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
CALEDONIA, MI 49316

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $46,500.

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 11 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

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 United Bank Of Michigan 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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Grand Rapids, Michigan

SBA Participating Banks in Michigan