First Place Bank SBA Loan to Consumer Lending Company

An SBA loan from First Place Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Birmingham, Michigan business owner got a $250,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Place Bank, out of Warren, Ohio. The loan was granted and they received $250,000 to help grow their Birmingham, Michigan business.

SBA Loan Borrower

COMPANY TYPE: CONSUMER LENDING
BIRMINGHAM, MI 48009

SBA Loan Lender

FIRST PLACE BANK
185 E MARKET ST
WARREN, OH 44481

This lender processed this business 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

522291 - Consumer Lending

Loan Approval Date

4/20/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 74 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 74 existing jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Alternative Financing

SBA Banks in Warren, Ohio

SBA Lenders in Ohio