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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 > Uncle Vern's Hardware Loan | ||||
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Muskegon, Michigan Bank Loan
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Loan to Buy Ace Hardware Franchise Issued By Citizens BankBorrowing money to invest in an Ace Hardware franchise? Citizens Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Muskegon, Michigan needed money to invest in an Ace Hardware franchise back in 2005. Citizens Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower UNCLE VERN'S HARDWARE SBA Loan Lender CITIZENS BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444130 - Hardware Stores Loan Approval Date 12/28/2005 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy an Ace Hardware franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Citizens Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Banks in Lansing, Michigan SBA Participating Banks in Michigan
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