Get an SBA Loan for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $6,300 was given to a Michigan entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Farwell, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Lasalle Bank Midwest, based in Troy, Michigan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Farwell, MI 48622

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$6,300

Loan Approval from the SBA

Of the total $6,300 loan amount, the SBA guaranteed $3,150.

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 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $6,300 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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