Bank Loans for Full-Service Restaurants

Looking for bank loans for full-service restaurants? Talk to a banker who works with the SBA. This $184,000 full-service restaurants loan was issued by a Michigan bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Superior National Bank & Trust, out of Hancock, Michigan. The loan was granted and they received $184,000 to help grow their Hancock, Michigan business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HANCOCK, MI 49930

SBA Loan Lender

SUPERIOR NATIONAL BANK & TRUST
235 QUINCY ST
HANCOCK, MI 49930

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$184,000

Loan Approval from the SBA

Of the total $184,000 loan amount, the SBA guaranteed $138,000.

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 11 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in Hancock 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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SBA 7A Banks in Hancock, Michigan

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