Bank Loans for Industrial Mold Manufacturing

With these bank loans for industrial mold manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial mold manufacturing loan for $110,000 was given to a Michigan entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dorr, Michigan was able to borrow $110,000 from Mercantile Bank Of Michigan. The SBA made the loan possible by guaranteeing $93,500 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
DORR, MI 49323

SBA Loan Lender

MERCANTILE BANK OF MICHIGAN
310 LEONARD ST NW
GRAND RAPIDS, MI 49504

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333511 - Industrial Mold Manufacturing

Loan Approval Date

12/19/2007

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Banks in Grand Rapids, Michigan

SBA Michigan Banks