Financing for Paint and Coating Manufacturing

With these loans for paint and coating manufacturing, the SBA guarantees the lender that the loan will be repaid. This paint and coating manufacturing loan for $911,000 was given to a Michigan entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Grand Rapids, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Huntington National Bank, based in Columbus, Ohio.

SBA Loan Borrower

COMPANY TYPE: PAINT AND COATING MANUFACTURING
GRAND RAPIDS, MI 49503

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219

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

325510 - Paint and Coating Manufacturing

Loan Approval Date

5/21/2007

Loan Approval Gross Amount

$911,000

Loan Approval from the SBA

Of the total $911,000 loan amount, the SBA guaranteed $683,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. The loan application indicated that the loan would help retain 17 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Grand Rapids MI, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses.

While you may be able to borrow money from friends and family, 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.

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