Citizens First Savings Bank Provides SBA Loan to Buy Chem-Dry Franchise

Borrowing money to buy a Chem-Dry franchise? Citizens First Savings Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in St. Clair Shores, Michigan needed money to invest in a Chem-Dry franchise back in 2006. Citizens First Savings Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

CHEM-DRY OF THE SHORES II
ST. CLAIR SHORES, MI 48080

SBA Loan Lender

CITIZENS FIRST SAVINGS BANK
525 WATER ST
PORT HURON, MI 48060

This lender processed this loan for a small business 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

561740 - Carpet and Upholstery Cleaning Services

Loan Approval Date

6/12/2006

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Chem-Dry franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens First Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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