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May 16, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Flint, Business Loans > Citizens Bank Flint Business Loans > Lumber And Other Building Materials Dealer Loan | ||||
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Michigan Bank SBA Loans
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Citizens Bank SBA Loan to Lumber And Other Building Materials Dealer CompanyWant a Michigan small business loan? Here's one Michigan business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in West Branch, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Citizens Bank, based in Flint, Michigan. SBA Loan Borrower COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER SBA Loan Lender CITIZENS BANK This commercial loan was issued by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA provides a rapid loan approval or denial response. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer Loan Approval Date 3/30/2000 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need emergency money for small businesses, 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 Participating Banks in Flint, Michigan
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