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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Eating Places Loan | ||||
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Business Loans for Madison Heights Small Business Owners
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Raising Money for Full-Service RestaurantsWith these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $665,000 was given to a Michigan entrepreneur in 2000. Getting a small business loan in Madison Heights, Michigan was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC, operating out of Richmond, Virginia. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BUSINESS LOAN CENTER, LLC 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/22/2000 Loan Approval Gross Amount $665,000 Loan Approval from the SBA Of the total $665,000 loan amount, the SBA guaranteed $498,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 23 employees. The SBA loan application for the borrower indicated that the loan would help retain 23 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Business Loan Center, LLC are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Richmond, Virginia Getting an SBA Loan in Virginia
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