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November 14, 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 > Full-Service Restaurants Loan | ||||
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Michigan Small Business Funding
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Getting an SBA Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? The SBA may be the answer. This $400,000 full-service restaurants loan was issued by a Michigan bank. This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Fifth Third Bank, out of Grand Rapids, Michigan. The loan was granted and they received $400,000 to help grow their Muskegon, Michigan business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender FIFTH THIRD BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/19/2006 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan If you want money for new small business in Muskegon MI, you ought to talk with a local Muskegon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Muskegon businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 SBA Participating Banks in Michigan
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