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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Beauty Shops Loan | ||||
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Banks in Lansing, Michigan That Make SBA Loans
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Lansing, Michigan Bank Gives SBA Loan to Beauty Shops CompanyWant to talk with a Lansing, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Lansing bank, that was approved by the SBA. Applying for an SBA loan with Citizens Bank worked out well for our friends at one local business in Romeo, Michigan. They received an SBA loan for $85,000. Sweet! SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender CITIZENS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 8/16/2002 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Lenders in Lansing, Michigan
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