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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > New Single-Family Housing Construction Loan | ||||
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SBA Lenders That Lend to Michigan Business Owners
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South Lyon, Michigan Entrepreneur Gets a Business LoanSBA loans in Michigan are are few and far betweeen these days. We take a look at one Michigan SBA loan, provided by a Michigan bank, that was approved by the SBA. By giving the right information to Citizens Bank, this South Lyon, Michigan business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender CITIZENS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236115 - New Single-Family Housing Construction Loan Approval Date 12/21/2005 Loan Approval Gross Amount $426,500 Loan Approval from the SBA Of the total $426,500 loan amount, the SBA guaranteed $319,875. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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: SBA 7A Banks for Lansing, Michigan Loans
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