Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $300,000 full-service restaurants loan was issued by a Michigan bank.

This small firm knew how to go about getting a business bank loan. Based in Utica, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Macomb Community Bank, based in Clinton Township, Michigan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
UTICA, MI 48316

SBA Loan Lender

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

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/21/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 49 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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SBA 7A Lenders in Clinton Township, Michigan

Getting a Business Loan in Michigan