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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Honor, Business Loans > The Honor State Bank Honor Business Loans > Custom Compounding Of Purchased Resins Loan | ||||
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The Honor State Bank Business Loans
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SBA Loan from The Honor State Bank Helps Custom Compounding Of Purchased Resins CompanyAn SBA loan from The Honor State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Manistee, Michigan business owner got a $125,000 loan. This growing company knew how to go about getting a business bank loan. Based in Manistee, Michigan, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was The Honor State Bank, based in Honor, Michigan. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPOUNDING OF PURCHASED RESINS SBA Loan Lender THE HONOR STATE BANK This lender processed this small business 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 325991 - Custom Compounding of Purchased Resins Loan Approval Date 10/4/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 49 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 49 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Business Banks in Honor, Michigan
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