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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 > Wine And Distilled Alcoholic Beverage Merchant Wholesalers Loan | ||||
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Raising Money in Lansing, Michigan With SBA Loans
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Business Loans for Wine and Distilled Alcoholic Beverage Merchant WholesalersLooking for business loans for wine and distilled alcoholic beverage merchant wholesalers? The SBA may be the answer. This $1,500,000 wine and distilled alcoholic beverage merchant wholesalers loan was issued by a Michigan bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Citizens Bank, out of Lansing, Michigan. The loan was granted and they received $1,500,000 to help grow their Lansing, Michigan business. SBA Loan Borrower COMPANY TYPE: WINE AND DISTILLED ALCOHOLIC BEVERAGE MERCHANT WHOLESALERS SBA Loan Lender CITIZENS BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424820 - Wine and Distilled Alcoholic Beverage Merchant Wholesalers Loan Approval Date 9/25/2003 Loan Approval Gross Amount $1,500,000 Loan Approval from the SBA Of the total $1,500,000 loan amount, the SBA guaranteed $874,995. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Advice on Getting a Small Business Loan Best Lansing, Michigan Banks for Small Business
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