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May 2, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Limited-Service Restaurants Loan | ||||
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Indianapolis, Indiana Bank for SBA Loans
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Financing for Limited-Service RestaurantsWith these loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $120,000 was given to an Indiana entrepreneur in 2007. This company knew how to go about getting a business bank loan. Based in Indianapolis, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender FIFTH THIRD BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 7/25/2007 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $60,000. 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 26 employees. The loan application indicated that the funding would help generate 40 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA 7A Banks in Grand Rapids, Michigan
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