Getting an SBA Loan for Full-Service Restaurants
With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $25,000 was given to a Michigan entrepreneur in 2007.
This business knew how to go about getting a business bank loan. Based in Fremont, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Huntington National Bank, based in Columbus, Ohio.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
Fremont, MI 49412
SBA Loan Lender
THE HUNTINGTON NATIONAL BANK
7 EASTON OVAL
COLUMBUS, OH 43219
This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
4/26/2007
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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 26 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
We can help you find the best banks for small businesses in Fremont 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.
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