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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Midland, Business Loans > Chemical Bank Midland Business Loans > Bolt, Nut, Screw, Rivet, And Washer Manufacturing Loan | ||||
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Who Lends Money to Olivet Entrepreneurs
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Chemical Bank Gives Business Loan to Bolt, Nut, Screw, Rivet, And Washer Manufacturing CompanyLooking to get a Michigan small business loan? This Michigan entrepreneur got a small business loan, provided by a Michigan bank that works with the SBA to help small business owners. Getting a small business loan in Olivet, Michigan was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Chemical Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: BOLT, NUT, SCREW, RIVET, AND WASHER MANUFACTURING SBA Loan Lender CHEMICAL BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing Loan Approval Date 10/18/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chemical Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Business Banks in Midland, Michigan
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