Financing for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $315,000 was given to a Michigan entrepreneur in 2004.

Getting a small business loan in Big Bay, Michigan was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Range Bank, operating out of Negaunee, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
BIG BAY, MI 49808

SBA Loan Lender

RANGE BANK
350 IRON ST
NEGAUNEE, MI 49866

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $236,250.

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 7 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Range Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Business Credit Evaluation

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Michigan SBA Bank Lenders