Where to Get Capital for Plate Work Manufacturing

With these SBA loans for plate work manufacturing, the SBA guarantees the lender that the loan will be repaid. This plate work manufacturing loan for $1,060,000 was given to a Michigan entrepreneur in 2003.

Getting a small business loan in Kingsford, Michigan was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wisconsin Community Bank, operating out of Sheboygan, Wisconsin. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PLATE WORK MANUFACTURING
KINGSFORD, MI 49802

SBA Loan Lender

WISCONSIN COMMUNITY BANK
4706 S TAYLOR DR
SHEBOYGAN, WI 53081

This bank 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

332313 - Plate Work Manufacturing

Loan Approval Date

12/17/2003

Loan Approval Gross Amount

$1,060,000

Loan Approval from the SBA

Of the total $1,060,000 loan amount, the SBA guaranteed $795,000.

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 48 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Wisconsin 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:

How Equity Dilution Works

SBA Approved Banks in Sheboygan, Wisconsin

Wisconsin SBA 7A Lenders