Dewitt, MI Entrepreneur Gets SBA Loan to Buy Samuel Mancino's Italian Eatery Franchise

Need a loan to buy a Samuel Mancino's Italian Eatery franchise? Firstbank-St. Johns has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Dewitt, Michigan needed money to invest in a Samuel Mancino's Italian Eatery franchise back in 2007. Firstbank-St. Johns issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

SAMUEL MANCINO'S ITALIAN EATER
DEWITT, MI 48820

SBA Loan Lender

FIRSTBANK-ST. JOHNS
201 N CLINTON AVE
SAINT JOHNS, MI 48879

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/21/2007

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Samuel Mancino's Italian Eatery franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the borrowed money would help generate 8 new jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Firstbank-St. Johns 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.

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