Financing for Power, Distribution, and Specialty Transformer Manufacturing

With these loans for power, distribution, and specialty transformer manufacturing, the SBA guarantees the lender that the loan will be repaid. This power, distribution, and specialty transformer manufacturing loan for $1,700,000 was given to a Michigan entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Ups Capital Business Credit, out of Windsor, Connecticut. The loan was granted and they received $1,700,000 to help grow their South Haven, Michigan business.

SBA Loan Borrower

COMPANY TYPE: POWER, DISTRIBUTION, AND SPECIALTY TRANSFORMER MANUFACTURING
SOUTH HAVEN, MI 49090

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
425 DAY HILL RD
WINDSOR, CT 06095

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335311 - Power, Distribution, and Specialty Transformer Manufacturing

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$1,700,000

Loan Approval from the SBA

Of the total $1,700,000 loan amount, the SBA guaranteed $999,991.

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 40 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 40 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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:

Bank Credit Lines

Small Business Banks in Windsor, Connecticut

Getting a Business Loan in Connecticut