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November 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Ann Arbor, Business Loans > University Bank Ann Arbor Business Loans > Cole Family Bakeries, Inc. Loan | ||||
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Good Sources for Northville SBA Loans
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Loan to Buy Great Harvest Bread Co. Franchise Issued By University BankNeed money to purchase a Great Harvest Bread Co. franchise? University Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Northville, Michigan needed money to invest in a Great Harvest Bread Co. franchise back in 2002. University Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower COLE FAMILY BAKERIES, INC. SBA Loan Lender UNIVERSITY BANK This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311811 - Retail Bakeries Loan Approval Date 7/25/2002 Loan Approval Gross Amount $355,000 Loan Approval from the SBA Of the total $355,000 loan amount, the SBA guaranteed $266,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Great Harvest Bread Co. franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Northville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Getting Venture Capital Best Banks for Small Business in Ann Arbor, Michigan
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