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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Wood Products Loan | ||||
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Best Banks for Small Business Owners in Michigan
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Twin Lake, Michigan Entrepreneur Gets an SBA LoanSBA loans in Michigan are tough to come by these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA. You can learn something about getting a small business loan in Twin Lake, Michigan by studying this loan to a local business, made back in 2000. Banks like Citizens Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCTS SBA Loan Lender CITIZENS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2499 - Wood Products NAICS Code 321999 - Wood Product Manufacturing Loan Approval Date 12/26/2000 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $86,250. 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 2 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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