Boat Dealers Bank Loans
Looking for bank loans for boat dealers? An SBA loan may be just what you've been looking for. This $667,500 boat dealers loan was issued by a Michigan bank.
Getting a small business loan in Empire, Michigan was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Lansing, Michigan. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: BOAT DEALERS
EMPIRE, MI 49630
SBA Loan Lender
CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
441222 - Boat Dealers
Loan Approval Date
1/25/2001
Loan Approval Gross Amount
$667,500
Loan Approval from the SBA
Of the total $667,500 loan amount, the SBA guaranteed $500,625.
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 7 employees. The loan application indicated that the loan would help generate 1 new job and retain 7 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.
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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