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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Big Apple Bagels Loan | ||||
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Muskegon, Michigan Bank for SBA Loans
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Loan to Buy Big Apple Bagels Franchise Issued By Fifth Third BankNeed money to purchase a Big Apple Bagels franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Muskegon, Michigan needed money to invest in a Big Apple Bagels franchise back in 2001. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower BIG APPLE BAGELS SBA Loan Lender FIFTH THIRD BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 8/10/2001 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $105,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the borrowed money would help generate 10 new jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Fifth Third Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Best Banks for Small Business in Grand Rapids, Michigan
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