Clinton Township, Michigan Bank Gives SBA Loan to Full-Service Restaurants Company

Find Clinton Township, Michigan banks that specialize in business loans and know how to work with entrepreneurs. Macomb Community Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Sterling Heights, Michigan starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Macomb Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
STERLING HEIGHTS, MI 48310

SBA Loan Lender

MACOMB COMMUNITY BANK
16000 HALL RD, STE 102
CLINTON TOWNSHIP, MI 48038

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/26/2007

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Sterling Heights MI, you ought to talk with a local Sterling Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sterling Heights businesses.

This SBA loan was for $205,000. How would you spend $205,000 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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