Entrepreneur Works With Clare, Michigan Bank to Get an SBA Loan

Want to talk with a Clare, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Clare bank, that was approved by the SBA.

Applying for an SBA loan with Chemical Bank worked out well for our friends at one local business in Mount Pleasant, Michigan. They got an SBA loan for $1,383,188. Sweet!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MOUNT PLEASANT, MI 48858

SBA Loan Lender

CHEMICAL BANK
807 MCEWAN ST
CLARE, MI 48617

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/1/2004

Loan Approval Gross Amount

$1,383,188

Loan Approval from the SBA

Of the total $1,383,188 loan amount, the SBA guaranteed $1,037,391.

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 30 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $1,383,188. How would you spend $1,383,188 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:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Clare, Michigan

Where to Get an SBA Loan Michigan