SBA Loans for General Merchandise Stores

Looking for SBA loans for general merchandise stores? The SBA may be the answer. This $144,000 general merchandise stores loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $144,000 from Peoples State Bank. The SBA made the loan possible by guaranteeing $72,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
DETROIT, MI 48238

SBA Loan Lender

PEOPLES STATE BANK
9252 JOSEPH CAMPAU AVE
HAMTRAMCK, MI 48212

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

452990 - General Merchandise Stores

Loan Approval Date

7/23/2007

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $72,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

This SBA loan was for $144,000. How would you spend $144,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Obtaining Funding - Friends and Family

SBA 7A Banks in Hamtramck, Michigan

Getting an SBA Loan in Michigan