Plastics Plumbing Fixture Manufacturing Small Business Loans

Looking for small business loans for plastics plumbing fixture manufacturing? The SBA may be the answer. This $60,000 plastics plumbing fixture manufacturing loan was issued by a Michigan bank.

This company knew how to go about getting a business bank loan. Based in Frankfort, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was State Savings Bank, based in Frankfort, Michigan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS PRODUCTS
FRANKFORT, MI 49635

SBA Loan Lender

STATE SAVINGS BANK
703 MAIN ST
FRANKFORT, MI 49635

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3089 - Plastics Products

NAICS Code

326191 - Plastics Plumbing Fixture Manufacturing

Loan Approval Date

6/20/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

Business Incubators

SBA Approved Banks in Frankfort, Michigan

Michigan SBA 7A Lenders