Small Business Loans for Specialty Trade Contractors

With these small business loans for specialty trade contractors, the SBA guarantees the lender that the loan will be repaid. This specialty trade contractors loan for $585,000 was given to a Michigan entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Saint Joseph, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Portage Commerce Bank, based in Portage, Michigan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
SAINT JOSEPH, MI 49085

SBA Loan Lender

PORTAGE COMMERCE BANK
800 E MILHAM
PORTAGE, MI 49002

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$585,000

Loan Approval from the SBA

Of the total $585,000 loan amount, the SBA guaranteed $438,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Portage Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

SBA 7A Banks for Portage, Michigan Loans

Getting a Business Loan in Michigan