Raising Money for Plastics and Rubber Industry Machinery Manufacturing

Looking for business loans for plastics and rubber industry machinery manufacturing? An SBA loan may be just what you've been looking for. This $550,000 plastics and rubber industry machinery manufacturing loan was issued by a Michigan bank.

Getting a small business loan in Tecumseh, Michigan was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Bank & Trust, operating out of Tecumseh, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS AND RUBBER INDUSTRY MACHINERY MANUFACTURING
TECUMSEH, MI 49286

SBA Loan Lender

UNITED BANK & TRUST
205 E CHICAGO BLVD
TECUMSEH, MI 49286

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333220 - Plastics and Rubber Industry Machinery Manufacturing

Loan Approval Date

11/21/2002

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $495,000.

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 23 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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