Local Business Gets a Michigan Small Business Loan

Would a Michigan business loan help your company expand? If so, you may want to talk with this Texas bank, which offers SBA loans to Michigan entrepreneurs.

This small business, based in Shelby Township, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Comerica Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL PROCESS FURNACES AND OVENS
SHELBY TOWNSHIP, MI 48315

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3567 - Industrial Process Furnaces and Ovens

NAICS Code

333994 - Industrial Process Furnace and Oven Manufacturing

Loan Approval Date

8/4/2000

Loan Approval Gross Amount

$481,932

Loan Approval from the SBA

Of the total $481,932 loan amount, the SBA guaranteed $433,739.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Comerica Bank and they will explain how you can get an SBA loan for your company.

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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