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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Auburn Hills, Business Loans > Bank Of Auburn Hills Auburn Hills Business Loans > Commercial And Service Industry Machinery Manufacturing Loan | ||||
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Raising Money in Detroit, Michigan With SBA Loans
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Commercial and Service Industry Machinery Manufacturing LoansLooking for loans for commercial and service industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $150,000 commercial and service industry machinery manufacturing loan was issued by a Michigan bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bank Of Auburn Hills, out of Auburn Hills, Michigan. The loan was granted and they received $150,000 to help grow their Detroit, Michigan business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING SBA Loan Lender BANK OF AUBURN HILLS 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 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 2/16/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of Auburn Hills had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of Auburn Hills 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. Related Links: Microlending as a Small Business Funding Source Small Bank Loans in Auburn Hills, Michigan
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