Detroit, Michigan Entrepreneur Gets a Business Loan

Looking to get a Michigan small business loan? This Michigan entrepreneur got a small business loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

Getting a small business loan in Detroit, Michigan was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
DETROIT, MI 48212

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

445120 - Convenience Stores

Loan Approval Date

1/12/2006

Loan Approval Gross Amount

$74,700

Loan Approval from the SBA

Of the total $74,700 loan amount, the SBA guaranteed $37,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Equity Dilution Works

Small Bank Loans in Providence, Rhode Island

SBA Rhode Island Banks