Get an SBA Loan for Cut Stone and Stone Product Manufacturing

Looking for small business loans for cut stone and stone product manufacturing? Talk to a banker who works with the SBA. This $962,000 cut stone and stone product manufacturing loan was issued by a Michigan bank.

Getting a small business loan in Clarkston, Michigan was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Flint, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING
CLARKSTON, MI 48346

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

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

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

5/28/2003

Loan Approval Gross Amount

$962,000

Loan Approval from the SBA

Of the total $962,000 loan amount, the SBA guaranteed $721,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 22 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 22 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $962,000 loan. Remember, you control your own destiny.

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:

Dealing With Venture Capitalists

Where to Get an SBA Loan in Flint, Michigan

Michigan SBA 7A Lenders