Getting an SBA Loan for New Single-Family Housing Construction

Looking for SBA loans for new single-family housing construction? Try the SBA. This $2,000,000 new single-family housing construction loan was issued by a Michigan bank.

Getting a small business loan in Petoskey, Michigan was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Lansing, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
PETOSKEY, MI 49770

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.

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 loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Petoskey MI, you ought to talk with a local Petoskey SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Petoskey businesses.

This SBA loan was for $2,000,000. How would you spend $2,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 7A Banks for Lansing, Michigan Loans

Michigan SBA Banks