Walker, Michigan Business Gets SBA-Guaranteed Funding from Kent Commerce Bank

An SBA loan from Kent Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Walker, Michigan business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Kent Commerce Bank, out of Kentwood, Michigan. The loan was granted and they received $150,000 to help grow their Walker, Michigan business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE
WALKER, MI 49544

SBA Loan Lender

KENT COMMERCE BANK
4050 LAKE DR SE
KENTWOOD, MI 49546

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3544 - Special Dies and Tools, Die Sets, Jigs and Fixture

Loan Approval Date

1/10/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 12 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Kentwood, Michigan

Michigan SBA 7A Banks