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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Farmington Hills, Business Loans > Paramount Bank Farmington Hills Business Loans > Health And Personal Care Stores Loan | ||||
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Business Loans for Southfield Small Businesses
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Health and Personal Care Stores Business LoansLooking for business loans for health and personal care stores? Talk to a banker who works with the SBA. This $150,000 health and personal care stores loan was issued by a Michigan bank. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Paramount Bank, out of Farmington Hills, Michigan. The loan was granted and they received $150,000 to help grow their Southfield, Michigan business. SBA Loan Borrower COMPANY TYPE: HEALTH AND PERSONAL CARE STORES SBA Loan Lender PARAMOUNT BANK The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 446199 - Health and Personal Care Stores Loan Approval Date 5/3/2006 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Southfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Farmington Hills, Michigan Banks for Small Business Browse All Business Loan Sources for Michigan
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