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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Southfield, Business Loans > First Place Bank Southfield Business Loans > Beauty Salons Loan | ||||
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First Place Bank Business Loans
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Business Loan from First Place Bank Given to Beauty Salons CompanyFirst Place Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Southfield, Michigan, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First Place Bank, based in Southfield, Michigan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FIRST PLACE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812112 - Beauty Salons Loan Approval Date 9/4/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, you control your own destiny. 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: Obtaining Funding - How to Borrow Money Best Banks in Southfield, Michigan
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