Business Loan from Macatawa Bank Given to Prefabricated Metal Building And Component Manufacturing Company

Macatawa Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muskegon, Michigan was able to borrow $68,400 from Macatawa Bank. The SBA made the loan possible by guaranteeing $58,140 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PREFABRICATED METAL BUILDING AND COMPONENT MANUFACTURING
MUSKEGON, MI 49411

SBA Loan Lender

MACATAWA BANK
10753 MACATAWA DR
HOLLAND, MI 49424

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332311 - Prefabricated Metal Building and Component Manufacturing

Loan Approval Date

7/27/2007

Loan Approval Gross Amount

$68,400

Loan Approval from the SBA

Of the total $68,400 loan amount, the SBA guaranteed $58,140.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

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

Although it's called an SBA loan, you 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 company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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Where to Get an SBA Loan in Holland, Michigan

Michigan SBA 7A Lenders