Local Business Gets a Michigan Bank Loan

Business loans in Michigan are are few and far betweeen these days. We take a look at one Michigan business loan, provided by a Connecticut bank, that was approved by the SBA.

By giving the right information to Ups Capital Business Credit, this Troy, Michigan business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: SPECIAL INDUSTRY MACHINERY
TROY, MI 48084

SBA Loan Lender

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

This business loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3559 - Special Industry Machinery

Loan Approval Date

2/4/2000

Loan Approval Gross Amount

$1,370,000

Loan Approval from the SBA

Of the total $1,370,000 loan amount, the SBA guaranteed $749,938.

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 30 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This SBA loan was for $1,370,000. How would you spend $1,370,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Getting a Small Business Loan

SBA 7A Banks in Windsor, Connecticut

Getting an SBA Loan in Connecticut