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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Full-Service Restaurants Loan | ||||
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Lansing, Michigan SBA Lenders
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Lansing, Michigan Lender Lends Money to Full-Service Restaurants CompanyWant to talk 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 company in Glen Arbor, Michigan. The business was able to get an SBA loan for $950,000. Awesome! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender CITIZENS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/14/2003 Loan Approval Gross Amount $950,000 Loan Approval from the SBA Of the total $950,000 loan amount, the SBA guaranteed $712,500. 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 20 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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 $950,000 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: Find an SBA Lender in Lansing, Michigan
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