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May 17, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Glass And Glazing Work Loan | ||||
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Raising Money in Utica, Michigan With SBA Loans
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Financing for Glass and Glazing ContractorsWith these loans for glass and glazing contractors, the SBA guarantees the lender that the loan will be repaid. This glass and glazing contractors loan for $75,000 was given to a Michigan entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Utica, Michigan was able to borrow $75,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $63,750 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: GLASS AND GLAZING WORK SBA Loan Lender RBS CITIZENS This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1793 - Glass and Glazing Work NAICS Code 235920 - Glass and Glazing Contractors Loan Approval Date 6/19/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to 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 SBA loan was for $75,000. How would you spend $75,000 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: Small Bank Loans in Providence, Rhode Island
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