Motor Vehicle Parts Manufacturing Bank Loans

Looking for bank loans for motor vehicle parts manufacturing? Talk to a banker who works with the SBA. This $350,000 motor vehicle parts manufacturing loan was issued by a Michigan bank.

Getting a small business loan in Kalamazoo, Michigan was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank, operating out of Benton Harbor, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS MANUFACTURING
KALAMAZOO, MI 49048

SBA Loan Lender

CHEMICAL BANK
823 RIVERVIEW DR
BENTON HARBOR, MI 49022

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

336399 - Motor Vehicle Parts Manufacturing

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 120 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 40 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Remember, 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Accountant's Role in Securing Financing

Small Business Banks in Benton Harbor, Michigan

Michigan SBA Banks