Michigan Entrepreneur Secures Financing to Buy Hungry Howie's Franchise

Borrowing money to purchase a Hungry Howie's franchise? Community Central Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Madison Heights, Michigan needed money to invest in a Hungry Howie's franchise back in 2004. Community Central Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

HUNGRY HOWIE'S PIZZA
MADISON HEIGHTS, MI 48071

SBA Loan Lender

COMMUNITY CENTRAL BANK
100 N MAIN ST
MOUNT CLEMENS, MI 48046

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/14/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hungry Howie's franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $75,000. How would you spend $75,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Hungry Howie's Pizza & Subs

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Find an SBA Lender in Mount Clemens, Michigan

SBA Participating Banks in Michigan