Grand Rapids, Michigan Lender Lends Money to Manufacturing And Industrial Building Construction Company

A Grand Rapids, Michigan SBA loan can be yours. Learn how a company got a $75,000 business loan from this Michigan bank.

This loan to a local firm is a good example of an SBA loan. Mercantile Bank Of Michigan made the loan and the SBA guaranteed a portion of the loan. Many other Michigan entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING AND INDUSTRIAL BUILDING CONSTRUCTION
GRANDVILLE, MI 49418

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233310 - Manufacturing and Industrial Building Construction

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Grandville MI, you ought to talk with a local Grandville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grandville businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Banks in Grand Rapids, Michigan

Getting a Business Loan in Michigan