How to Get a Loan for Wood Office Furniture Manufacturing

With these business loans for wood office furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This wood office furniture manufacturing loan for $100,000 was given to a Michigan entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kalamazoo, Michigan was able to borrow $100,000 from Keystone Community Bank. The SBA made the loan possible by guaranteeing $50,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE MANUFACTURING
KALAMAZOO, MI 49009

SBA Loan Lender

KEYSTONE COMMUNITY BANK
107 W MICHIGAN AVE
KALAMAZOO, MI 49007

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

8/26/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Keystone Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

SBA Participating Banks in Kalamazoo, Michigan

SBA Lenders in Michigan