Irwin Union Bank & Trust Provides SBA Loan to Buy Big Apple Bagel Company Franchise

Need a loan to purchase a Big Apple Bagel Company franchise? Irwin Union Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Big Apple Bagel Company franchise is doable. In 2005, Irwin Union Bank & Trust issued an SBA franchise loan to an entrepreneur in Kalamazoo, Michigan. Because Big Apple Bagel Company was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

LOTI, INC.
KALAMAZOO, MI 49009

SBA Loan Lender

IRWIN UNION BANK & TRUST
500 WASHINGTON ST
COLUMBUS, IN 47201

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

7/21/2005

Loan Approval Gross Amount

$161,000

Loan Approval from the SBA

Of the total $161,000 loan amount, the SBA guaranteed $120,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big Apple Bagel Company franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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