Michigan Bank Loan Issued to Cutting Tool And Machine Tool Accessory Manufacturing Company

Would a Michigan small business loan help your small business to grow and prosper? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs.

Getting a small business loan in Grand Rapids, Michigan was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from United Bank Of Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
GRAND RAPIDS, MI 49512

SBA Loan Lender

UNITED BANK OF MICHIGAN
900 E PARIS AVE SE
GRAND RAPIDS, MI 49546

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333515 - Cutting Tool and Machine Tool Accessory Manufacturing

Loan Approval Date

10/17/2003

Loan Approval Gross Amount

$214,000

Loan Approval from the SBA

Of the total $214,000 loan amount, the SBA guaranteed $160,500.

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 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from United Bank Of Michigan so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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