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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Flint, Business Loans > Citizens Bank Flint Business Loans > Medical, Dental, And Hospital Equipment And Supplies Merchant Wholesalers Loan | ||||
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How to Get SBA Loans in Southfield, Michigan
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Bank Loans for Medical, Dental, and Hospital Equipment and Supplies Merchant WholesalersLooking for bank loans for medical, dental, and hospital equipment and supplies merchant wholesalers? Talk to a banker who works with the SBA. This $200,000 medical, dental, and hospital equipment and supplies merchant wholesalers loan was issued by a Michigan bank. This small firm knew how to go about getting a business bank loan. Based in Southfield, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Citizens Bank, based in Flint, Michigan. SBA Loan Borrower COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender CITIZENS BANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers Loan Approval Date 6/5/2007 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 25 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Who Lends Money to Small Businesses in Flint, Michigan
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