Business Loans for Full-Service Restaurants

Looking for business loans for full-service restaurants? Try the SBA. This $480,000 full-service restaurants loan was issued by a Michigan bank.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Upper Peninsula State Bank, out of Escanaba, Michigan. The loan was granted and they received $480,000 to help grow their Escanaba, Michigan business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ESCANABA, MI 49829

SBA Loan Lender

UPPER PENINSULA STATE BANK
112 N 11TH ST
ESCANABA, MI 49829

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/11/2003

Loan Approval Gross Amount

$480,000

Loan Approval from the SBA

Of the total $480,000 loan amount, the SBA guaranteed $360,000.

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 16 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

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

We can help you find the best banks for small businesses in Escanaba 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.

Related Links:

Advice on Getting a Small Business Loan

SBA 7A Banks in Escanaba, Michigan

SBA Michigan Banks