Lowell, MI Entrepreneur Gets SBA Loan to Buy Play N Trade Franchise

Need money to purchase a Play N Trade franchise? Firstbank- West Michigan has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Play N Trade franchise shouldn't be overly burdensome. In 2007, Firstbank- West Michigan issued an SBA franchise loan to an entrepreneur in Lowell, Michigan. Because Play N Trade was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

PLAY N TRADE
LOWELL, MI 49331

SBA Loan Lender

FIRSTBANK- WEST MICHIGAN
302 W MAIN ST
IONIA, MI 48846

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

9/7/2007

Loan Approval Gross Amount

$119,000

Loan Approval from the SBA

Of the total $119,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Play N Trade franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

Related Links:

Play 'N Trade

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Best Banks for Small Business in Ionia, Michigan

SBA Lenders in Michigan