Borrowing Money for Manufacturing

With these bank loans for manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufacturing loan for $70,000 was given to a Michigan entrepreneur in 2004.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $70,000 to help grow their Sterling Heights, Michigan business.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
STERLING HEIGHTS, MI 48310

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

339999 - Manufacturing

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Direct Public Offerings

SBA 7A Banks for Grand Rapids, Michigan Loans

Getting an SBA Loan in Michigan