Southfield, Michigan Entrepreneur Gets a Business Loan

Looking to get a Michigan small business loan? This Michigan entrepreneur got a small business loan, provided by a Michigan bank that works with the SBA to help small business owners.

Getting a small business loan in Southfield, Michigan was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL, AND HOSPITAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
SOUTHFIELD, MI 48075

SBA Loan Lender

CITIZENS BANK
328 S SAGINAW ST
FLINT, MI 48502

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

423450 - Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

Loan Approval Date

6/6/2007

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 loan application indicated that the loan would help generate 15 new jobs and retain 25 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $400,000. How would you spend $400,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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.

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