Portage Commerce Bank SBA Loan to Chemical Product And Preparation Manufacturing Company

An SBA loan from Portage Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kalamazoo, Michigan business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Kalamazoo, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Portage Commerce Bank, based in Portage, Michigan.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING
KALAMAZOO, MI 49003

SBA Loan Lender

PORTAGE COMMERCE BANK
800 E MILHAM
PORTAGE, MI 49002

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

7/23/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 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.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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