Borrow Money to Buy a Big Boy Franchise

Need a loan to invest in a Big Boy franchise? Firstbank- West Michigan has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Big Boy franchise shouldn't be too tough. In 2001, Firstbank- West Michigan issued an SBA franchise loan to an entrepreneur in Ionia, Michigan. Because Big Boy was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

IONIA BIG BOY
IONIA, MI 48846

SBA Loan Lender

FIRSTBANK- WEST MICHIGAN
302 W MAIN ST
IONIA, MI 48846

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/5/2001

Loan Approval Gross Amount

$1,120,000

Loan Approval from the SBA

Of the total $1,120,000 loan amount, the SBA guaranteed $840,000.

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 40 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.

Next Steps for Getting an SBA Loan

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

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 Firstbank- West Michigan 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:

Big Boy Restaurants International LLC

Choosing VC Firms

SBA 7A Banks for Ionia, Michigan Loans

SBA Lenders in Michigan