Cleveland, Ohio Bank Gives SBA Loan to Women's Clothing Stores Company

Get small business loans from a Cleveland, Ohio bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Rbs Citizens is a Cleveland, Ohio small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
SOUTHGATE, MI 48105

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

9/8/2000

Loan Approval Gross Amount

$108,350

Loan Approval from the SBA

Of the total $108,350 loan amount, the SBA guaranteed $81,262.

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 4 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Southgate MI, you ought to talk with a local Southgate SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Southgate businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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