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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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SBA Lenders That Lend to Troy Small Businesses
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Rbs Citizens Gives Small Business Loan to Gift, Novelty, And Souvenir Stores CompanyMichiganBank loans are available to Michigan firms through the SBA. In this case, a Rhode Island bank provides the loan. This small business, based in Troy, 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 Rbs Citizens. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender RBS CITIZENS 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 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 10/11/2005 Loan Approval Gross Amount $3,000 Loan Approval from the SBA Of the total $3,000 loan amount, the SBA guaranteed $1,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 11 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in Providence, Rhode Island
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