Michigan Entrepreneur Secures Financing to Buy Little Professor Book Center Franchise

Borrowing money to purchase a Little Professor Book Center franchise? Peoples State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Little Professor Book Center franchise may simply require a phone call to a local SBA banker. In 2003, Peoples State Bank issued an SBA franchise loan to an entrepreneur in Fenton, Michigan. Because Little Professor Book Center was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

LITTLE PROFESSOR BOOK CENTER
FENTON, MI 48430

SBA Loan Lender

PEOPLES STATE BANK
17197 SILVER PKWY
FENTON, MI 48430

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5942 - Book Stores

NAICS Code

451211 - Book Stores

Loan Approval Date

6/25/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Little Professor Book Center franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, fight for what you want, and it will be yours!

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:

Understanding Dilution

Small Bank Loans in Fenton, Michigan

Michigan SBA 7A Lenders