River Rouge, Michigan Entrepreneur Gets a Bank Loan
Small business loans in Michigan are hard to find these days. We take a look at one Michigan small business loan, provided by a New Jersey bank, that was approved by the SBA.
Getting a small business loan in River Rouge, Michigan was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Michigan small business loan.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
RIVER ROUGE, MI 48239
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA loan for small businesses 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.
SIC Code
8021 - Offices and Clinics of Dentists
NAICS Code
621210 - Dentists
Loan Approval Date
7/14/2000
Loan Approval Gross Amount
$143,300
Loan Approval from the SBA
Of the total $143,300 loan amount, the SBA guaranteed $107,475.
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 3 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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 $143,300 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:
Startup Funding Tip
Where to Get an SBA Loan in Livingston, New Jersey
Getting a Business Loan in New Jersey