Full-Service Restaurants Small Business Loans

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $142,200 full-service restaurants loan was issued by a Michigan bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Firstbank- West Michigan, out of Ionia, Michigan. The loan was granted and they received $142,200 to help grow their Portland, Michigan business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PORTLAND, MI 48875

SBA Loan Lender

FIRSTBANK- WEST MICHIGAN
302 W MAIN ST
IONIA, MI 48846

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/5/2002

Loan Approval Gross Amount

$142,200

Loan Approval from the SBA

Of the total $142,200 loan amount, the SBA guaranteed $120,870.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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