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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Flint, Business Loans > Citizens Bank Flint Business Loans > Beauty Salons Loan | ||||
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Raising Money in Brighton, Michigan With SBA Loans
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Small Business Loans for Beauty SalonsLooking for small business loans for beauty salons? An SBA loan may be just what you've been looking for. This $225,100 beauty salons loan was issued by a Michigan bank. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Citizens Bank, out of Flint, Michigan. The loan was granted and they received $225,100 to help grow their Brighton, Michigan business. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender CITIZENS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 4/9/2007 Loan Approval Gross Amount $225,100 Loan Approval from the SBA Of the total $225,100 loan amount, the SBA guaranteed $168,825. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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:
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