Commercial Loans for Bowling Centers

Looking for commercial loans for bowling centers? The SBA may be the answer. This $355,000 bowling centers loan was issued by a Michigan bank.

This small business knew how to go about getting a business bank loan. Based in Boyne City, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Citizens Bank, based in Lansing, Michigan.

SBA Loan Borrower

COMPANY TYPE: BOWLING CENTERS
BOYNE CITY, MI 49712

SBA Loan Lender

CITIZENS BANK
2425 E GRAND RIVER AVE
LANSING, MI 48912

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

713950 - Bowling Centers

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$355,000

Loan Approval from the SBA

Of the total $355,000 loan amount, the SBA guaranteed $266,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 9 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Boyne City MI, you ought to talk with a local Boyne City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Boyne City businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Bank Credit Lines

SBA Participating Banks in Lansing, Michigan

Where to Get an SBA Loan Michigan