Lansing, Michigan Bank Lends Money to Full-Service Restaurants Company in Traverse City, Michigan

Get to know Lansing, Michigan banks that specialize in SBA loans and know how to work with entrepreneurs. Citizens Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Traverse City, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Citizens Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TRAVERSE CITY, MI 49684

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$1,140,000

Loan Approval from the SBA

Of the total $1,140,000 loan amount, the SBA guaranteed $855,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 35 employees. The loan application indicated that the loan would help retain 35 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start 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.

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 Citizens Bank 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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