Commercial Loans for Fabricated Pipe and Pipe Fitting Manufacturing

With these commercial loans for fabricated pipe and pipe fitting manufacturing, the SBA guarantees the lender that the loan will be repaid. This fabricated pipe and pipe fitting manufacturing loan for $40,000 was given to a Michigan entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port Huron, Michigan was able to borrow $40,000 from Citizens First Savings Bank. The SBA made the loan possible by guaranteeing $20,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED PIPE AND PIPE FITTING MANUFACTURING
PORT HURON, MI 48040

SBA Loan Lender

CITIZENS FIRST SAVINGS BANK
525 WATER ST
PORT HURON, MI 48060

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

332996 - Fabricated Pipe and Pipe Fitting Manufacturing

Loan Approval Date

10/6/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 7 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Debt Financing

Banks in Port Huron, Michigan

SBA Participating Banks in Michigan