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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 > Fidelity Bank Ann Arbor Business Loans > Jouppi Family Steakhouses, Inc Loan | ||||
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SBA Franchise Financing Lender Northville Michigan
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Northville, MI Entrepreneur Gets SBA Loan to Buy Ponderosa Steak House FranchiseNeed money to purchase a Ponderosa Steak House franchise? Fidelity Bank has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Ponderosa Steak House franchise is doable. In 2002, Fidelity Bank issued an SBA franchise loan to an entrepreneur in Northville, Michigan. Because Ponderosa Steak House was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis. SBA Loan Borrower JOUPPI FAMILY STEAKHOUSES, INC SBA Loan Lender FIDELITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/4/2002 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Ponderosa Steak House franchise. At the time of the loan, the company had 40 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels 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. 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: SBA Participating Banks in Ann Arbor, Michigan Find an SBA Lender in Michigan
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