Detroit, Michigan Bank Gives SBA Loan to Snack And Nonalcoholic Beverage Bars Company

Thinking about meeting with a Detroit, Michigan bank about a business loan? Here's one Michigan business loan, issued by a Detroit bank, that was approved by the SBA.

Applying for an SBA loan with Shorebank worked out well for our friends at one local firm in Washington, Michigan. The business was able to get an SBA loan for $378,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
WASHINGTON, MI 48094

SBA Loan Lender

SHOREBANK
14533 MACK AVE
DETROIT, MI 48215

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/18/2004

Loan Approval Gross Amount

$378,000

Loan Approval from the SBA

Of the total $378,000 loan amount, the SBA guaranteed $283,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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