Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Raising Money in Detroit, Michigan With SBA Loans

 

 
Loan Census SBA Loan Info

Detroit, Michigan Entrepreneur Gets a Bank Loan

MichiganBank loans are available to Michigan firms through the SBA. In this case, an Ohio bank provides the loan.

You can learn something about getting a small business loan in Detroit, Michigan by studying this loan to a local company, made back in 2001. Banks like Rbs Citizens may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF DENTISTS
DETROIT, MI 48205

SBA Loan Lender

RBS CITIZENS
1215 SUPERIOR AVE
CLEVELAND, OH 44114

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8021 - Offices and Clinics of Dentists

NAICS Code

621210 - Dentists

Loan Approval Date

7/10/2001

Loan Approval Gross Amount

$88,560

Loan Approval from the SBA

Of the total $88,560 loan amount, the SBA guaranteed $75,276.

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 2 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Raising VC Money for Social Networking Companies

SBA 7A Banks in Cleveland, Ohio

SBA Lenders in Ohio