Financing for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,129,600 was given to a Michigan entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Imlay City, Michigan was able to borrow $1,129,600 from Macomb Community Bank. The SBA made the loan possible by guaranteeing $847,200 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
IMLAY CITY, MI 48444

SBA Loan Lender

MACOMB COMMUNITY BANK
16000 HALL RD, STE 102
CLINTON TOWNSHIP, MI 48038

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$1,129,600

Loan Approval from the SBA

Of the total $1,129,600 loan amount, the SBA guaranteed $847,200.

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 29 employees. This SBA loan request indicated that the loan would help retain 29 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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