How to Get a Loan for Industrial Machinery Manufacturing

With these business loans for industrial machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This industrial machinery manufacturing loan for $84,300 was given to a Michigan entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Traverse City, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citizens Bank, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY MANUFACTURING
TRAVERSE CITY, MI 49684

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

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

333298 - Industrial Machinery Manufacturing

Loan Approval Date

8/9/2002

Loan Approval Gross Amount

$84,300

Loan Approval from the SBA

Of the total $84,300 loan amount, the SBA guaranteed $71,655.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

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

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $84,300 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Debt Financing

SBA 7A Banks in Lansing, Michigan

Getting a Business Loan in Michigan