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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Brighton, Business Loans > Brighton Commerce Bank Brighton Business Loans > Full-Service Restaurants Loan | ||||
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Getting an SBA Loan from Brighton Commerce Bank
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Hamburg, Michigan Business Gets SBA-Guaranteed Funding from Brighton Commerce BankBrighton Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Michigan entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Hamburg, Michigan was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Brighton Commerce Bank, operating out of Brighton, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BRIGHTON COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/14/2006 Loan Approval Gross Amount $857,000 Loan Approval from the SBA Of the total $857,000 loan amount, the SBA guaranteed $642,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 43 new jobs and retain 12 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Brighton Commerce Bank and they will explain how you can get an SBA loan for your company. 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: Who Lends Money to Small Businesses in Brighton, Michigan
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