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April 27, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Hamtramck, Business Loans > Peoples State Bank Hamtramck Business Loans > Car Washes Loan | ||||
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Peoples State Bank
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Business Loan from Peoples State Bank Given to Car Washes CompanyPeoples State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Detroit, Michigan was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Peoples State Bank, operating out of Hamtramck, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CAR WASHES SBA Loan Lender PEOPLES STATE BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811192 - Car Washes Loan Approval Date 11/16/2006 Loan Approval Gross Amount $24,900 Loan Approval from the SBA Of the total $24,900 loan amount, the SBA guaranteed $12,450. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 14 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $24,900. How would you spend $24,900 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Realistic Debt Financing Options SBA 7A Banks in Hamtramck, Michigan
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