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April 28, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Flint, Business Loans > Citizens Bank Flint Business Loans > Convenience Stores Loan | ||||
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Raising Money in Detroit, Michigan With SBA Loans
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Convenience Stores Commercial LoansLooking for commercial loans for convenience stores? Try the SBA. This $125,000 convenience stores loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $125,000 from Citizens Bank. The SBA made the loan possible by guaranteeing $62,500 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender CITIZENS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 445120 - Convenience Stores Loan Approval Date 11/1/2007 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. 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. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Microlending as a Small Business Funding Source SBA Approved Banks in Flint, Michigan
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