Paragon Bank & Trust SBA Loan to Nonupholstered Wood Household Furniture Manufacturing Company

Paragon Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Jenison, Michigan, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Paragon Bank & Trust, based in Holland, Michigan.

SBA Loan Borrower

COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING
JENISON, MI 49428

SBA Loan Lender

PARAGON BANK & TRUST
240 E 8TH ST
HOLLAND, MI 49423

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337122 - Nonupholstered Wood Household Furniture Manufacturing

Loan Approval Date

4/8/2002

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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 19 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

The Friends and Family Network

SBA Participating Banks in Holland, Michigan

Michigan SBA 7A Lenders