Business Loan from 1st Source Bank Given to Electroplating, Plating, Polishing And Anodizing Company

1st Source Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Niles, Michigan, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was 1st Source Bank, based in Niles, Michigan.

SBA Loan Borrower

COMPANY TYPE: ELECTROPLATING, PLATING, POLISHING AND ANODIZING
NILES, MI 49120

SBA Loan Lender

1ST SOURCE BANK
127 E MAIN ST
NILES, MI 49120

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3471 - Electroplating, Plating, Polishing and Anodizing

NAICS Code

332813 - Electroplating, Plating, Polishing, Anodizing, and Coloring

Loan Approval Date

3/1/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st Source Bank and they will explain how you can get an SBA loan for your company.

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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