Chemical Bank Gives Business Loan to Bolt, Nut, Screw, Rivet, And Washer Manufacturing Company

Looking to get a Michigan small business loan? This Michigan entrepreneur got a small business loan, provided by a Michigan bank that works with the SBA to help small business owners.

Getting a small business loan in Olivet, Michigan was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: BOLT, NUT, SCREW, RIVET, AND WASHER MANUFACTURING
OLIVET, MI 49076

SBA Loan Lender

CHEMICAL BANK
333 E MAIN ST
MIDLAND, MI 48640

This lender processed this 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

332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing

Loan Approval Date

10/18/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

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

Remember, 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chemical Bank 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:

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Small Business Banks in Midland, Michigan

Michigan SBA 7A Lenders