Company Gets a Michigan Small Business Loan

Looking to get a Michigan SBA loan? This Michigan entrepreneur got an SBA loan, provided by a Michigan bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Fort Gratiot, Michigan by studying this loan to a local business, made back in 2006. Banks like Citizens First Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
FORT GRATIOT, MI 48059

SBA Loan Lender

CITIZENS FIRST SAVINGS BANK
525 WATER ST
PORT HURON, MI 48060

This small business 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

236220 - Commercial and Institutional Building Construction

Loan Approval Date

7/21/2006

Loan Approval Gross Amount

$722,000

Loan Approval from the SBA

Of the total $722,000 loan amount, the SBA guaranteed $541,500.

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 40 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $722,000 loan. Remember, anyone can do it... so why not 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:

Bank Credit Lines

SBA 7A Banks in Port Huron, Michigan

Getting an SBA Loan in Michigan