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December 31, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > Physicians Loan | ||||
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MI SBA Loans from Peoples State Bank
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Peoples State Bank SBA Loan to Physicians CompanyAn SBA loan from Peoples State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bloomfield Hills, Michigan business owner got a $500,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomfield Hills, Michigan was able to borrow $500,000 from Peoples State Bank. The SBA made the loan possible by guaranteeing $375,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender PEOPLES STATE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 11/13/2007 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Hamtramck, Michigan
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