Where to Get Capital for Manufacturing

With these SBA loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $150,000 was given to a Michigan entrepreneur in 2001.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Monroe Bank & Trust, out of Monroe, Michigan. The loan was granted and they received $150,000 to help grow their Monroe, Michigan business.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCTS
MONROE, MI 48162

SBA Loan Lender

MONROE BANK & TRUST
102 E FRONT ST
MONROE, MI 48161

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2499 - Wood Products

NAICS Code

339999 - Manufacturing

Loan Approval Date

11/16/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Monroe Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Monroe, Michigan

Where to Get an SBA Loan Michigan