Detroit, MI Entrepreneur Gets SBA Loan to Buy Mcdonald's Franchise

Borrowing money to buy a Mcdonald's franchise? Rbs Citizens has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Detroit, Michigan needed money to invest in a Mcdonald's franchise back in 2005. Rbs Citizens issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

JMC #4, INC. DBA MCDONALD'S
DETROIT, MI 48223

SBA Loan Lender

RBS CITIZENS
ONE CITIZENS PLAZA
PROVIDENCE, RI 02903

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/12/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mcdonald's franchise. At the time of the loan, the company had 200 employees. The SBA loan application for the borrower indicated that the loan would help generate 25 new jobs and retain 225 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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