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May 11, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Lansing, Business Loans > Citizens Bank Lansing Business Loans > Commercial And Industrial Machinery And Equipment Loan | ||||
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Byron Center, Michigan Bank for SBA Loans
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Financing for Commercial and Industrial Machinery and EquipmentWith these commercial loans for commercial and industrial machinery and equipment, the SBA guarantees the lender that the loan will be repaid. This commercial and industrial machinery and equipment loan for $427,500 was given to a Michigan entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Byron Center, Michigan was able to borrow $427,500 from Citizens Bank. The SBA made the loan possible by guaranteeing $320,625 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT 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 811310 - Commercial and Industrial Machinery and Equipment Loan Approval Date 6/14/2005 Loan Approval Gross Amount $427,500 Loan Approval from the SBA Of the total $427,500 loan amount, the SBA guaranteed $320,625. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Obtaining Funding - Friends and Family Find an SBA Lender in Michigan
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