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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Big Boy Restaurant Loan | ||||
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Sterling Heights, Michigan Bank Loan
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Fifth Third Bank Provides SBA Loan to Buy Big Boy FranchiseNeed money to purchase a Big Boy franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Big Boy franchise? If so, here's a 2005 SBA franchise loan that you should know about. Fifth Third Bank was the lender and the entrepreneur was based in Sterling Heights, Michigan. SBA Loan Borrower BIG BOY RESTAURANT SBA Loan Lender FIFTH THIRD BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/18/2005 Loan Approval Gross Amount $980,000 Loan Approval from the SBA Of the total $980,000 loan amount, the SBA guaranteed $735,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Big Boy franchise. At the time of the loan, the company had 42 employees. This SBA loan request indicated that the loan would help retain 42 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Big Boy Restaurants International LLC Who Lends Money to Small Businesses in Grand Rapids, Michigan
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