Small Business Loans for Steel Foundries

Looking for small business loans for steel foundries? Try the SBA. This $645,000 steel foundries loan was issued by a Michigan bank.

This company knew how to go about getting a business bank loan. Based in Port Huron, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community Central Bank, based in Mount Clemens, Michigan.

SBA Loan Borrower

COMPANY TYPE: STEEL FOUNDRIES
PORT HURON, MI 48060

SBA Loan Lender

COMMUNITY CENTRAL BANK
100 N MAIN ST
MOUNT CLEMENS, MI 48046

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

331513 - Steel Foundries

Loan Approval Date

2/25/2002

Loan Approval Gross Amount

$645,000

Loan Approval from the SBA

Of the total $645,000 loan amount, the SBA guaranteed $483,750.

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 28 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Family and Friend Investors - Your First Financiers

SBA Approved Banks in Mount Clemens, Michigan

Michigan SBA 7A Banks