Commercial Loans for Finish Carpentry Contractors

With these commercial loans for finish carpentry contractors, the SBA guarantees the lender that the loan will be repaid. This finish carpentry contractors loan for $950,000 was given to a Michigan entrepreneur in 2008.

This small business knew how to go about getting a business bank loan. Based in Kentwood, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Byron Bank, based in Byron Center, Michigan.

SBA Loan Borrower

COMPANY TYPE: FINISH CARPENTRY CONTRACTORS
KENTWOOD, MI 49508

SBA Loan Lender

BYRON BANK
2445 84TH ST SW
BYRON CENTER, MI 49315

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238350 - Finish Carpentry Contractors

Loan Approval Date

1/30/2008

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

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 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

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

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Byron Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Byron Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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