Comstock Park, Michigan Entrepreneur Gets a Small Business Loan

Would a Michigan SBA loan help your business get to the next level? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.

This small business, based in Comstock Park, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Kent Commerce Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: ORNAMENTAL AND ARCHITECTURAL METAL WORK MANUFACTURING
COMSTOCK PARK, MI 49321

SBA Loan Lender

KENT COMMERCE BANK
4050 LAKE DR SE
KENTWOOD, MI 49546

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332323 - Ornamental and Architectural Metal Work Manufacturing

Loan Approval Date

3/20/2006

Loan Approval Gross Amount

$825,000

Loan Approval from the SBA

Of the total $825,000 loan amount, the SBA guaranteed $618,750.

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 17 employees. The loan application indicated that the loan would help retain 17 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Kent Commerce Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Kent Commerce Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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