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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Car Washes Loan | ||||
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SBA Lender Royal Oak Michigan
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Business Loans for Car WashesLooking for business loans for car washes? Talk to a banker who works with the SBA. This $910,700 car washes loan was issued by a Michigan bank. This small business knew how to go about getting a business bank loan. Based in Royal Oak, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Citizens Bank, based in Lansing, Michigan. SBA Loan Borrower COMPANY TYPE: CAR WASHES 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 811192 - Car Washes Loan Approval Date 9/19/2003 Loan Approval Gross Amount $910,700 Loan Approval from the SBA Of the total $910,700 loan amount, the SBA guaranteed $268,820. 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in Royal Oak or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Lansing, Michigan
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