Limited-Service Restaurants Bank Loans

Looking for bank loans for limited-service restaurants? The SBA may be the answer. This $25,000 limited-service restaurants loan was issued by a Michigan bank.

Getting a small business loan in Ypsilanti, Michigan was important for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from T & C Fcu, operating out of Pontiac, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
YPSILANTI, MI 48197

SBA Loan Lender

T & C FCU
44400 WOODWARD AVE
PONTIAC, MI 48341

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/3/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. T & C Fcu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, T & C Fcu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

The Friends and Family Network

Best Banks for Small Business in Pontiac, Michigan

Getting an SBA Loan in Michigan