Lansing, Michigan Lender Lends Money to Gasoline Stations With Convenience Stores Company

Thinking about meeting with a Lansing, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Lansing bank, that was approved by the SBA.

Applying for an SBA loan with Citizens Bank worked out well for our friends at one local business in Fenton, Michigan. The business was able to get an SBA loan for $150,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
FENTON, MI 48430

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

The lender provided this loan for a small business 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

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

11/16/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 20 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Fenton MI, you ought to talk with a local Fenton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fenton businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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

Good Banks for Small Business in Lansing, Michigan

Getting a Business Loan in Michigan