Harbor Beach, Michigan Business Gets SBA-Guaranteed Funding from Chemical Bank

Chemical Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Chemical Bank, out of Midland, Michigan. The loan was granted and they received $200,000 to help grow their Harbor Beach, Michigan business.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC CONNECTOR MANUFACTURING
HARBOR BEACH, MI 48441

SBA Loan Lender

CHEMICAL BANK
333 E MAIN ST
MIDLAND, MI 48640

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

334417 - Electronic Connector Manufacturing

Loan Approval Date

12/20/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 23 employees. This SBA loan request indicated that the loan would help retain 23 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Harbor Beach 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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