Raising Money for Special Die and Tool, Die Set, Jig, and Fixture Manufacturing
Looking for bank loans for special die and tool, die set, jig, and fixture manufacturing? An SBA loan may be just what you've been looking for. This $112,000 special die and tool, die set, jig, and fixture manufacturing loan was issued by an Illinois bank.
Getting a small business loan in Shelby Township, Michigan was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from National City Bank, operating out of Bannockburn, Illinois. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: SPECIAL DIE AND TOOL, DIE SET, JIG, AND FIXTURE MANUFACTURING
SHELBY TOWNSHIP, MI 48315
SBA Loan Lender
NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing
Loan Approval Date
7/25/2005
Loan Approval Gross Amount
$112,000
Loan Approval from the SBA
Of the total $112,000 loan amount, the SBA guaranteed $84,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 6 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.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Family and Friend Investors - Your First Financiers
Where to Get an SBA Loan in Bannockburn, Illinois
SBA Participating Banks in Illinois