Entrepreneur Works With Flint, Michigan Bank to Get an SBA Loan

Want to talk with a Flint, Michigan bank about an SBA 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 company in Petoskey, Michigan. The business was able to get an SBA loan for $192,900. Sweet!

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
PETOSKEY, MI 49770

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

524210 - Insurance Agencies and Brokerages

Loan Approval Date

11/24/2004

Loan Approval Gross Amount

$192,900

Loan Approval from the SBA

Of the total $192,900 loan amount, the SBA guaranteed $96,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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