Michigan Entrepreneur Secures Financing to Buy All Star Wireless Franchise

Borrowing money to purchase an All Star Wireless franchise? Peoples State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an All Star Wireless franchise shouldn't be overly burdensome. In 2007, Peoples State Bank issued an SBA franchise loan to an entrepreneur in West Bloomfield, Michigan. Because All Star Wireless was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

ALL STAR WIRELESS
WEST BLOOMFIELD, MI 48323

SBA Loan Lender

PEOPLES STATE BANK
9252 JOSEPH CAMPAU AVE
HAMTRAMCK, MI 48212

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

453991 - Tobacco Stores

Loan Approval Date

4/19/2007

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an All Star Wireless franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs.

Getting an SBA Loan For Your Business

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Peoples State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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