Borrowing Money for Continuing Care Retirement Communities

Looking for small business loans for continuing care retirement communities? Try the SBA. This $775,000 continuing care retirement communities loan was issued by a Michigan bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citizens Bank, out of Lansing, Michigan. The loan was granted and they received $775,000 to help grow their Traverse City, Michigan business.

SBA Loan Borrower

COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES
TRAVERSE CITY, MI 49684

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623311 - Continuing Care Retirement Communities

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$775,000

Loan Approval from the SBA

Of the total $775,000 loan amount, the SBA guaranteed $581,250.

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 12 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Lansing, Michigan

SBA Michigan Banks