Entrepreneur Works With Troy, Michigan Bank to Get an SBA Loan

Get to know Troy, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Independent Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Livonia, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Independent Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
LIVONIA, MI 48150

SBA Loan Lender

INDEPENDENT BANK
201 W BIG BEAVER RD, STE 125
TROY, MI 48084

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333511 - Industrial Mold Manufacturing

Loan Approval Date

8/22/2002

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

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 29 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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