Borrowing Money for Continuing Care Retirement Communities

Looking for bank loans for continuing care retirement communities? Talk to a banker who works with the SBA. This $100,000 continuing care retirement communities loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Flushing, Michigan was able to borrow $100,000 from Nuunion Cu. The SBA made the loan possible by guaranteeing $85,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES
FLUSHING, MI 48433

SBA Loan Lender

NUUNION CU
501 S CAPITOL AVE
LANSING, MI 48933

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

8/22/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 retain 20 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $100,000 loan. Remember, feel the fear, and do it anyway.

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:

Microlending as a Small Business Funding Source

Small Business Banks in Lansing, Michigan

Michigan SBA 7A Lenders