Getting an SBA Loan for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Try the SBA. This $200,000 limited-service restaurants loan was issued by a Michigan bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kalamazoo, Michigan was able to borrow $200,000 from Lasalle Bank Midwest. The SBA made the loan possible by guaranteeing $100,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Kalamazoo, MI 49009

SBA Loan Lender

LASALLE BANK MIDWEST
2600 W BIG BEAVER RD
TROY, MI 48084

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/27/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the funding would help create 15 new jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

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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