Michigan Bank Loan Issued to Beauty Salons Company

Business loans in Michigan are tough to come by these days. We take a look at one Michigan business loan, provided by a Texas bank, that was approved by the SBA.

This company, based in West Bloomfield, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Comerica Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
WEST BLOOMFIELD, MI 48322

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

1/24/2002

Loan Approval Gross Amount

$237,800

Loan Approval from the SBA

Of the total $237,800 loan amount, the SBA guaranteed $178,350.

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 40 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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