Citizens Bank SBA Loan to Hotels And Motels Company

An SBA loan from Citizens Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Grayling, Michigan business owner got a $165,000 loan.

This business knew how to go about getting a business bank loan. Based in Grayling, Michigan, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Citizens Bank, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
GRAYLING, MI 49738

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/2/2005

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $123,750.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Grayling or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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