Abrasive Product Manufacturing Bank Loans

Looking for bank loans for abrasive product manufacturing? The SBA may be the answer. This $300,000 abrasive product manufacturing loan was issued by an Indiana bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Horizon Bank, out of Michigan City, Indiana. The loan was granted and they received $300,000 to help grow their Michigan City, Indiana business.

SBA Loan Borrower

COMPANY TYPE: ABRASIVE PRODUCTS
MICHIGAN CITY, IN 46360

SBA Loan Lender

HORIZON BANK
515 FRANKLIN SQ
MICHIGAN CITY, IN 46360

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3291 - Abrasive Products

NAICS Code

327910 - Abrasive Product Manufacturing

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Michigan City IN, you ought to talk with a local Michigan City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Michigan City businesses.

This SBA loan was for $300,000. How would you spend $300,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

Best Banks in Michigan City, Indiana

Getting an SBA Loan in Indiana