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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Manistique, Business Loans > Mbank Manistique Business Loans > Full-Service Restaurants Loan | ||||
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Small Business Banks for White Lake, Michigan Business Owners
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Business Loans for Full-Service RestaurantsLooking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $131,000 full-service restaurants loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in White Lake, Michigan was able to borrow $131,000 from Mbank. The SBA made the loan possible by guaranteeing $111,350 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender MBANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/28/2007 Loan Approval Gross Amount $131,000 Loan Approval from the SBA Of the total $131,000 loan amount, the SBA guaranteed $111,350. 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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: Obtaining Funding - How to Decide How Much to Raise
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