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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Flint, Business Loans > Citizens Bank Flint Business Loans > Fine Arts Schools Loan | ||||
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Banks in Flint, Michigan That Make SBA Loans
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Flint, Michigan Bank Lends Money to Fine Arts Schools Company in Owosso, MichiganThinking about meeting with a Flint, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Flint bank, that was approved by the SBA. Applying for an SBA loan with Citizens Bank worked out well for our friends at one local firm in Owosso, Michigan. They got an SBA loan for $202,500. Way to go! SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender CITIZENS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611610 - Fine Arts Schools Loan Approval Date 7/23/2007 Loan Approval Gross Amount $202,500 Loan Approval from the SBA Of the total $202,500 loan amount, the SBA guaranteed $151,875. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $202,500 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:
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