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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Honor, Business Loans > The Honor State Bank Honor Business Loans > Eating Places Loan | ||||
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Michigan Bank SBA Loans
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The Honor State Bank SBA Loan to Eating Places CompanyLooking to get a Michigan SBA loan? Here's one Michigan business loan that was approved by the SBA. This local small business knew how to go about getting a business bank loan. Based in Benzonia, Michigan, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was The Honor State Bank, based in Honor, Michigan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE HONOR STATE BANK This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/11/2000 Loan Approval Gross Amount $235,000 Loan Approval from the SBA Of the total $235,000 loan amount, the SBA guaranteed $176,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Where to Get an SBA Loan in Honor, Michigan
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