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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Canton, Business Loans > The Huntington National Bank Canton Business Loans > Convenience Stores Loan | ||||
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Michigan Small Business Funding
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Raising Money for Convenience StoresLooking for business loans for convenience stores? The SBA may be the answer. This $935,000 convenience stores loan was issued by an Ohio bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Boston, Michigan was able to borrow $935,000 from The Huntington National Bank. The SBA made the loan possible by guaranteeing $701,250 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender THE HUNTINGTON NATIONAL BANK This lender provides SBA 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 445120 - Convenience Stores Loan Approval Date 1/2/2004 Loan Approval Gross Amount $935,000 Loan Approval from the SBA Of the total $935,000 loan amount, the SBA guaranteed $701,250. 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 4 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $935,000 loan. Remember, you control your own destiny. 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:
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