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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Hotels And Motels Loan | ||||
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Business Loans for Rockford Businesses
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Raising Money for Hotels and MotelsWith these bank loans for hotels and motels, the SBA guarantees the lender that the loan will be repaid. This hotels and motels loan for $850,000 was given to a Michigan entrepreneur in 2002. This company knew how to go about getting a business bank loan. Based in Rockford, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Citizens Bank, based in Lansing, Michigan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender CITIZENS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/3/2002 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $637,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens Bank and they will explain how you can get an SBA loan for your company. 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: Realistic Debt Financing Options Good Banks for Small Business in Lansing, Michigan
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