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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Port Huron, Business Loans > Citizens First Savings Bank Port Huron Business Loans > Physical, Occupational And Speech Therapists, And Audiologists Loan | ||||
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Fort Gratiot, Michigan Bank Loan
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Citizens First Savings Bank Gives SBA Loan to Physical, Occupational And Speech Therapists, And Audiologists CompanySearching for a Michigan bank loan? This Michigan entrepreneur got a bank loan, provided by a Michigan bank that works with the SBA to help small business owners. This company, based in Fort Gratiot, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens First Savings Bank. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS SBA Loan Lender CITIZENS FIRST SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 621340 - Physical, Occupational and Speech Therapists, and Audiologists Loan Approval Date 4/27/2006 Loan Approval Gross Amount $117,000 Loan Approval from the SBA Of the total $117,000 loan amount, the SBA guaranteed $58,500. 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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens First Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens First Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Best Banks for Small Business in Port Huron, Michigan
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