Business Loan from Irwin Union Bank & Trust Given to Motor Vehicle Seating And Interior Trim Manufacturing Company

An SBA loan from Irwin Union Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Williamsburg, Michigan business owner got a $675,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Williamsburg, Michigan, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Irwin Union Bank & Trust, based in Columbus, Indiana.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SEATING AND INTERIOR TRIM MANUFACTURING
WILLIAMSBURG, MI 49690

SBA Loan Lender

IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201

This loan for a small business 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

336360 - Motor Vehicle Seating and Interior Trim Manufacturing

Loan Approval Date

1/17/2003

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $337,500.

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 7 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Columbus, Indiana Loans

Getting a Business Loan in Indiana