Get an SBA Loan for Store Retailers

With these small business loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $337,400 was given to a Michigan entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Coldwater, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was The Huntington National Bank, based in Canton, Ohio.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
COLDWATER, MI 49036

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
220 MARKET AVE SOUTH, UNITED
CANTON, OH 44702

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

11/15/2005

Loan Approval Gross Amount

$337,400

Loan Approval from the SBA

Of the total $337,400 loan amount, the SBA guaranteed $269,920.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, 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.

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