Food Service Contractors Loans

With these loans for food service contractors, the SBA guarantees the lender that the loan will be repaid. This food service contractors loan for $50,000 was given to a Michigan entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southfield, Michigan was able to borrow $50,000 from Jpmorgan Chase Bank. The SBA made the loan possible by guaranteeing $25,000 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
SOUTHFIELD, MI 48075

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This debt financing 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

722310 - Food Service Contractors

Loan Approval Date

8/29/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 9 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Southfield MI, you ought to talk with a local Southfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Southfield businesses.

This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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