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November 24, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Photography Studios, Portrait Loan | ||||
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Rbs Citizens
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Lathrup Village, Michigan Business Gets SBA-Guaranteed Funding from Rbs CitizensRbs Citizens and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Lathrup Village, Michigan, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Rbs Citizens, based in Providence, Rhode Island. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT SBA Loan Lender RBS CITIZENS 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 541921 - Photography Studios, Portrait Loan Approval Date 6/9/2006 Loan Approval Gross Amount $34,500 Loan Approval from the SBA Of the total $34,500 loan amount, the SBA guaranteed $17,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money 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 Rbs Citizens 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: Borrowing Money from Friends and Family SBA Approved Banks in Providence, Rhode Island
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