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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Mercantile Bank Of Michigan Grand Rapids Business Loans > Plastics Plumbing Fixture Manufacturing Loan | ||||
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Best Banks That Lend to Holland Businesses
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Michigan Business Loan Issued to Plastics Plumbing Fixture Manufacturing CompanyLooking to get a Michigan SBA loan? This Michigan entrepreneur got an SBA loan, provided by a Michigan bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Holland, Michigan by studying this loan to a local business, made back in 2008. Banks like Mercantile Bank Of Michigan may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS PLUMBING FIXTURE MANUFACTURING SBA Loan Lender MERCANTILE BANK OF MICHIGAN The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 326191 - Plastics Plumbing Fixture Manufacturing Loan Approval Date 1/8/2008 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 10 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Good Banks for Small Business in Grand Rapids, Michigan
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