Michigan Entrepreneur Secures Financing to Buy Big Boy Franchise

Need money to purchase a Big Boy franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA.

Big Boy franchise loans are available to Caledonia, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, National City Bank, based in Cleveland, Ohio, issued an SBA franchise loan for a Big Boy franchise in 2006. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

CALEDONIA BB, INC.
CALEDONIA, MI 49316

SBA Loan Lender

NATIONAL CITY BANK
1900 E 9TH ST
CLEVELAND, OH 44114

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/27/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Boy franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 34 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from National City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Big Boy Restaurants International LLC

Accountant's Role in Securing Financing

Small Bank Loans in Cleveland, Ohio

Find an SBA Lender in Ohio