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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Mercantile Bank Of Michigan Grand Rapids Business Loans > Fabricated Structural Metal Manufacturing Loan | ||||
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Michigan Small Business SBA Loans
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Michigan SBA Loan Issued to Fabricated Structural Metal Manufacturing CompanyMichiganSBA loans are available to Michigan entrepreneurs through the SBA. In this case, a Michigan bank provides the loan. Getting a small business loan in Jenison, Michigan was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Mercantile Bank Of Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING SBA Loan Lender MERCANTILE BANK OF MICHIGAN This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332312 - Fabricated Structural Metal Manufacturing Loan Approval Date 12/19/2003 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. 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 10 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mercantile Bank Of Michigan that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Approved Banks in Grand Rapids, Michigan
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