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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Farmington Hills, Business Loans > Citizens First Savings Bank Farmington Hills Business Loans > Machine Tool Manufacturing Loan | ||||
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SBA Lenders in Michigan
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Citizens First Savings Bank SBA Loan to Machine Tool Manufacturing CompanyAn SBA loan from Citizens First Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Livonia, Michigan business owner got a $455,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Livonia, Michigan was able to borrow $455,000 from Citizens First Savings Bank. The SBA made the loan possible by guaranteeing $341,250 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE TOOL MANUFACTURING SBA Loan Lender CITIZENS FIRST SAVINGS BANK This 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 333512 - Machine Tool Manufacturing Loan Approval Date 11/30/2006 Loan Approval Gross Amount $455,000 Loan Approval from the SBA Of the total $455,000 loan amount, the SBA guaranteed $341,250. 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 2 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $455,000. How would you spend $455,000 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: A Company That Helps Entrepreneurs Small Business Banks in Farmington Hills, Michigan Where to Get an SBA Loan Michigan
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