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April 28, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Dentists Loan | ||||
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Michigan Small Business SBA Loans
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Firm Gets a Michigan Bank LoanSmall business loans in Michigan are hard to find these days. We take a look at one Michigan small business loan, provided by a New Jersey bank, that was approved by the SBA. This business, based in Keego Harbor, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Cit Small Business Lending Corp. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621210 - Dentists Loan Approval Date 3/27/2007 Loan Approval Gross Amount $1,477,000 Loan Approval from the SBA Of the total $1,477,000 loan amount, the SBA guaranteed $1,107,750. 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 documents indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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: Who Lends Money to Small Businesses in Livingston, New Jersey
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