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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Cosmetology And Barber Schools Loan | ||||
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How to Get SBA Loans in Grand Rapids, Michigan
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Cosmetology and Barber Schools Business LoansLooking for business loans for cosmetology and barber schools? Try the SBA. This $420,700 cosmetology and barber schools loan was issued by a Michigan bank. Getting a small business loan in Grand Rapids, Michigan was important for this small business back in 2004 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: COSMETOLOGY AND BARBER SCHOOLS SBA Loan Lender CITIZENS BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 611511 - Cosmetology and Barber Schools Loan Approval Date 6/21/2004 Loan Approval Gross Amount $420,700 Loan Approval from the SBA Of the total $420,700 loan amount, the SBA guaranteed $315,525. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Where to Get an SBA Loan in Lansing, Michigan
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