Business Loan from Lasalle Bank Midwest Given to Eating Places Company

Lasalle Bank Midwest is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westland, Michigan was able to borrow $265,000 from Lasalle Bank Midwest. The SBA made the loan possible by guaranteeing $198,750 of this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WESTLAND, MI 48185

SBA Loan Lender

LASALLE BANK MIDWEST
124 W ALLEGAN
LANSING, MI 48933

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/24/2000

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application indicated that the borrowed money would help create 6 new jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Westland MI, you ought to talk with a local Westland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westland businesses.

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 $265,000 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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