Loan to Buy Bab Systems,Inc Franchise Issued By Irwin Union Bank & Trust

Need money to invest in a Bab Systems,Inc franchise? Irwin Union Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Kalamazoo, Michigan needed money to invest in a Bab Systems,Inc franchise back in 2004. Irwin Union Bank & Trust issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

LOTL INC
KALAMAZOO, MI 49006

SBA Loan Lender

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

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Bab Systems,Inc franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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