Borrowing Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? Try the SBA. This $36,200 limited-service restaurants loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Detroit, Michigan was able to borrow $36,200 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $30,770 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DETROIT, MI 48227

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/9/2002

Loan Approval Gross Amount

$36,200

Loan Approval from the SBA

Of the total $36,200 loan amount, the SBA guaranteed $30,770.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Detroit MI, you ought to talk with a local Detroit SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Detroit businesses.

We can help you find the best banks for small businesses in Detroit or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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