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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 > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Raising Money in Roseville, Michigan With SBA Loans
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Business Loans for Plumbing, Heating, and Air-Conditioning ContractorsWith these business loans for plumbing, heating, and air-conditioning contractors, the SBA guarantees the lender that the loan will be repaid. This plumbing, heating, and air-conditioning contractors loan for $640,000 was given to a Michigan entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Roseville, Michigan was able to borrow $640,000 from Citizens Bank. The SBA made the loan possible by guaranteeing $480,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 7/22/2004 Loan Approval Gross Amount $640,000 Loan Approval from the SBA Of the total $640,000 loan amount, the SBA guaranteed $480,000. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Determining Proper Capital Structure for a Business Best Lansing, Michigan Banks for Small Business Find an SBA Lender in Michigan
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