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November 21, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > New York, Business Loans > Business Loan Center, LLC New York Business Loans > Full-Service Restaurants Loan | ||||
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How to Get SBA Money in Ferndale, Michigan
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Michigan Business Loan Issued to Full-Service Restaurants CompanyMichiganBusiness loans are available to Michigan business owners through the SBA. In this case, a New York bank provides the loan. This business, based in Ferndale, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Business Loan Center, LLC. We've got the inside scoop on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BUSINESS LOAN CENTER, LLC This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/10/2005 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 20 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 20 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a business in Ferndale MI, you ought to talk with a local Ferndale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ferndale businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Bank Loans in New York, New York
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