SBA Loan from Citizens Bank Helps Conveyor And Conveying Equipment Manufacturing Company

Citizens Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Davisburg, Michigan, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Citizens Bank, based in Flint, Michigan.

SBA Loan Borrower

COMPANY TYPE: CONVEYOR AND CONVEYING EQUIPMENT MANUFACTURING
DAVISBURG, MI 48350

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333922 - Conveyor and Conveying Equipment Manufacturing

Loan Approval Date

8/17/2007

Loan Approval Gross Amount

$1,950,000

Loan Approval from the SBA

Of the total $1,950,000 loan amount, the SBA guaranteed $975,000.

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 51 employees. This SBA loan request indicated that the loan would help retain 51 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,950,000 loan. Remember, fight for what you want, and it will be yours!

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:

Debt Financing

SBA Banks in Flint, Michigan

Michigan SBA 7A Lenders