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November 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Southfield, Business Loans > First Place Bank Southfield Business Loans > Full-Service Restaurants Loan | ||||
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Michigan Small Business SBA Loans
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First Place Bank Gives Business Loan to Full-Service Restaurants CompanyBusiness loans in Michigan are are few and far betweeen these days. We take a look at one Michigan business loan, provided by a Michigan bank, that was approved by the SBA. Getting a small business loan in Burton, Michigan was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Place Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender FIRST PLACE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/19/2006 Loan Approval Gross Amount $540,000 Loan Approval from the SBA Of the total $540,000 loan amount, the SBA guaranteed $405,000. 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 8 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $540,000 loan. Remember, fight for what you want, and it will be yours! 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: SBA Participating Banks in Southfield, Michigan Getting a Business Loan in Michigan
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