Borrowing Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? Try the SBA. This $271,000 full-service restaurants loan was issued by a Michigan bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Capitol National Bank, out of Lansing, Michigan. The loan was granted and they received $271,000 to help grow their Lansing, Michigan business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LANSING, MI 48912

SBA Loan Lender

CAPITOL NATIONAL BANK
200 WASHINGTON SQ NORTH
LANSING, MI 48933

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/28/2007

Loan Approval Gross Amount

$271,000

Loan Approval from the SBA

Of the total $271,000 loan amount, the SBA guaranteed $203,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 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 need seed money for business? Maybe you want money to buy a franchise? 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.

Related Links:

Angel Investors

Banks in Lansing, Michigan

SBA Michigan Banks