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December 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Loan | ||||
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Business Loans for Utica Businesses
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Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Business LoansWith these business loans for jewelry, watch, precious stone, and precious metal merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This jewelry, watch, precious stone, and precious metal merchant wholesalers loan for $200,000 was given to a Michigan entrepreneur in 2003. Getting a small business loan in Utica, Michigan was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank, operating out of Lansing, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS SBA Loan Lender CITIZENS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Loan Approval Date 5/8/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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. Related Links: Find an SBA Lender in Lansing, Michigan
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