Business Loan from Comerica Bank Given to Meat And Meat Product Merchant Wholesalers Company

Comerica Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Comerica Bank, out of Auburn Hills, Michigan. The loan was granted and they received $1,556,400 to help grow their Quinnesec, Michigan business.

SBA Loan Borrower

COMPANY TYPE: MEAT AND MEAT PRODUCT MERCHANT WHOLESALERS
QUINNESEC, MI 49876

SBA Loan Lender

COMERICA BANK
3501 HAMLIN RD, STE 1
AUBURN HILLS, MI 48326

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424470 - Meat and Meat Product Merchant Wholesalers

Loan Approval Date

11/8/2007

Loan Approval Gross Amount

$1,556,400

Loan Approval from the SBA

Of the total $1,556,400 loan amount, the SBA guaranteed $1,167,300.

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 5 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 1 existing job.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours 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:

The Friends and Family Network

SBA Banks in Auburn Hills, Michigan

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