Citizens Bank Provides SBA Loan to Buy Children's Orchard retail Clothing Franchise

Need a loan to purchase a Children's Orchard retail Clothing franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Children's Orchard retail Clothing franchise may simply require a phone call to a local SBA banker. In 2002, Citizens Bank issued an SBA franchise loan to an entrepreneur in Traverse City, Michigan. Because Children's Orchard retail Clothing was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

CHILDREN'S ORCHARD
TRAVERSE CITY, MI 49684

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Children's Orchard retail Clothing franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Traverse City MI, you ought to talk with a local Traverse City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Traverse City businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Citizens 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.

Related Links:

Children's Orchard, Inc.

Obtaining Funding - How to Borrow Money

Best Lansing, Michigan Banks for Small Business

Getting a Business Loan in Michigan