Borrowing Money for Specialty Food Stores

With these small business loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $139,000 was given to a Michigan entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saginaw, Michigan was able to borrow $139,000 from Chemical Bank. The SBA made the loan possible by guaranteeing $69,500 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
SAGINAW, MI 48603

SBA Loan Lender

CHEMICAL BANK
333 E MAIN ST
MIDLAND, MI 48640

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

11/15/2005

Loan Approval Gross Amount

$139,000

Loan Approval from the SBA

Of the total $139,000 loan amount, the SBA guaranteed $69,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Saginaw 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.

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