Loan to Buy Big Boy Franchise Issued By Merrill Lynch Bank Usa

Borrowing money to purchase a Big Boy franchise? Merrill Lynch Bank Usa has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Hastings, Michigan needed money to invest in a Big Boy franchise back in 2000. Merrill Lynch Bank Usa issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

CAMPBELL ENTERPRISES OF MICHIG
HASTINGS, MI 49058

SBA Loan Lender

MERRILL LYNCH BANK USA
15 W SOUTH TEMPLE, STE 300
SALT LAKE CITY, UT 84101

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/23/2000

Loan Approval Gross Amount

$808,000

Loan Approval from the SBA

Of the total $808,000 loan amount, the SBA guaranteed $606,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Big Boy franchise. At the time of the loan, the company had 50 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Merrill Lynch Bank Usa are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Big Boy Restaurants International LLC

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