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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 > Roofing, Siding, And Sheet Metal Work Loan | ||||
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Michigan Bank SBA Loans
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Citizens Bank SBA Loan to Roofing, Siding, And Sheet Metal Work CompanyAn SBA loan from Citizens Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Holland, Michigan business owner got a $132,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Citizens Bank, out of Lansing, Michigan. The loan was granted and they received $132,000 to help grow their Holland, Michigan business. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL WORK SBA Loan Lender CITIZENS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1761 - Roofing, Siding, and Sheet Metal Work NAICS Code 235610 - Roofing, Siding, and Sheet Metal Contractors Loan Approval Date 3/31/2000 Loan Approval Gross Amount $132,000 Loan Approval from the SBA Of the total $132,000 loan amount, the SBA guaranteed $99,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in Lansing, Michigan
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