How to Get a Loan for Snack and Nonalcoholic Beverage Bars

Looking for commercial loans for snack and nonalcoholic beverage bars? The SBA may be the answer. This $62,000 snack and nonalcoholic beverage bars loan was issued by a Michigan bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Chelsea State Bank, out of Chelsea, Michigan. The loan was granted and they received $62,000 to help grow their Ann Arbor, Michigan business.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
ANN ARBOR, MI 48103

SBA Loan Lender

CHELSEA STATE BANK
1010 S MAIN ST
CHELSEA, MI 48118

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

8/12/2005

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $52,700.

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 13 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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