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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 > Hotels And Motels Loan | ||||
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Michigan Bank SBA Loans
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Citizens Bank SBA Loan to Hotels And Motels CompanyWant a Michigan small business loan? Here's one Michigan business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Charlevoix, Michigan was able to borrow $755,000 from Citizens Bank. The SBA made the loan possible by guaranteeing $566,250 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS 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 business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 6/30/2000 Loan Approval Gross Amount $755,000 Loan Approval from the SBA Of the total $755,000 loan amount, the SBA guaranteed $566,250. 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 16 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Citizens Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Banks in Lansing, Michigan Where to Get an SBA Loan Michigan
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