Commercial Loans for Book, Periodical, and Newspaper Merchant Wholesalers

With these commercial loans for book, periodical, and newspaper merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This book, periodical, and newspaper merchant wholesalers loan for $150,000 was given to a Michigan entrepreneur in 2007.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First Place Bank, out of Warren, Ohio. The loan was granted and they received $150,000 to help grow their Bloomfield Hills, Michigan business.

SBA Loan Borrower

COMPANY TYPE: BOOK, PERIODICAL, AND NEWSPAPER MERCHANT WHOLESALERS
BLOOMFIELD HILLS, MI 48324

SBA Loan Lender

FIRST PLACE BANK
185 E MARKET ST
WARREN, OH 44481

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

424920 - Book, Periodical, and Newspaper Merchant Wholesalers

Loan Approval Date

11/16/2007

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

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.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Microlending as a Small Business Funding Source

Good Banks for Small Business in Warren, Ohio

Ohio SBA Banks