Borrowing Money for Motor Vehicle Transmission and Power Train Parts Manufacturing

With these small business loans for motor vehicle transmission and power train parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle transmission and power train parts manufacturing loan for $1,120,000 was given to a Michigan entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gladstone, Michigan was able to borrow $1,120,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $840,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE TRANSMISSION AND POWER TRAIN PARTS MANUFACTURING
GLADSTONE, MI 48313

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
3900 WESTERRE PARKWAY, SUITE
RICHMOND, VA 23233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

336350 - Motor Vehicle Transmission and Power Train Parts Manufacturing

Loan Approval Date

5/1/2002

Loan Approval Gross Amount

$1,120,000

Loan Approval from the SBA

Of the total $1,120,000 loan amount, the SBA guaranteed $840,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 133 employees. This SBA loan request indicated that the loan would help generate 17 new jobs and retain 150 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Gladstone or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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