Comerica Bank Gives Business Loan to Radio, Television, And Electronics Stores Company
Small business loans in Michigan are hard to find these days. We take a look at one Michigan small business loan, provided by a Texas bank, that was approved by the SBA.
Getting a small business loan in Detroit, Michigan was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES
DETROIT, MI 48221
SBA Loan Lender
COMERICA BANK
1717 MAIN
DALLAS, TX 75201
This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
443112 - Radio, Television, and Electronics Stores
Loan Approval Date
9/1/2005
Loan Approval Gross Amount
$538,000
Loan Approval from the SBA
Of the total $538,000 loan amount, the SBA guaranteed $403,500.
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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Determining Proper Capital Structure for a Business
Small Bank Loans in Dallas, Texas
Find an SBA Lender in Texas