Where to Get Capital for Specialty Food Stores

With these SBA loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $225,000 was given to a Michigan entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Birmingham, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Clarkston State Bank, based in Clarkston, Michigan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
BIRMINGHAM, MI 48012

SBA Loan Lender

CLARKSTON STATE BANK
15 S MAIN ST
CLARKSTON, MI 48346

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

7/25/2006

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Getting an SBA Loan in Michigan