Raising Money for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $211,000 was given to a Michigan entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Joseph, Michigan was able to borrow $211,000 from Keybank National Association. The SBA made the loan possible by guaranteeing $158,250 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SAINT JOSEPH, MI 49085

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$211,000

Loan Approval from the SBA

Of the total $211,000 loan amount, the SBA guaranteed $158,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Saint Joseph MI, you ought to talk with a local Saint Joseph SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Saint Joseph businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Keybank National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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