Taylor, MI Entrepreneur Gets SBA Loan to Buy Fuddrucker's Franchise

Borrowing money to buy a Fuddrucker's franchise? Lasalle Bank Midwest has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fuddrucker's franchise shouldn't be too tough. In 2002, Lasalle Bank Midwest issued an SBA franchise loan to an entrepreneur in Taylor, Michigan. Because Fuddrucker's was registered with the SBA's registry of franchises, this Michigan small business loan was issued on an expedited basis.

SBA Loan Borrower

FUDDRUCKERS
TAYLOR, MI 48180

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

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

12/6/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $224,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fuddrucker's franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $400,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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