Amusement Arcades Business Loans

With these business loans for amusement arcades, the SBA guarantees the lender that the loan will be repaid. This amusement arcades loan for $50,000 was given to a Michigan entrepreneur in 2004.

Getting a small business loan in Fenton, Michigan was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The State Bank, operating out of Fenton, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
FENTON, MI 48430

SBA Loan Lender

THE STATE BANK
175 N LEROY ST
FENTON, MI 48430

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

4/26/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, 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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