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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Northville, Business Loans > Main Street Bank Northville Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lender Northville, Michigan
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Northville, Michigan Lender Lends Money to Full-Service Restaurants CompanyThinking about meeting with a Northville, Michigan bank about a small business loan? Here's one Michigan business loan, issued by a Northville bank, that was approved by the SBA. Applying for an SBA loan with Main Street Bank worked out well for our friends at one local firm in Allen Park, Michigan. They received an SBA loan for $750,000. Sweet! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender MAIN STREET BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/22/2004 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 22 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. Next Steps for Getting an SBA Loan Remember, you 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Main Street Bank and they will explain how you can get an SBA loan for your company. 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: Best Banks in Northville, Michigan
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