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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Store Retailers Loan | ||||
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Tips for Business Owners On Getting a Loan
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Borrowing Money for Store RetailersWith these loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $203,000 was given to a Michigan entrepreneur in 2003. This small firm knew how to go about getting a business bank loan. Based in Canton, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Citizens Bank, based in Lansing, Michigan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender CITIZENS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 5/2/2003 Loan Approval Gross Amount $203,000 Loan Approval from the SBA Of the total $203,000 loan amount, the SBA guaranteed $152,250. 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 documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Lansing, Michigan Loans
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