Keystone Community Bank SBA Loan to Limited-Service Restaurants Company

An SBA loan from Keystone Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kalamazoo, Michigan business owner got a $192,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Keystone Community Bank, out of Kalamazoo, Michigan. The loan was granted and they received $192,000 to help grow their Kalamazoo, Michigan business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
KALAMAZOO, MI 49007

SBA Loan Lender

KEYSTONE COMMUNITY BANK
107 W MICHIGAN AVE
KALAMAZOO, MI 49007

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/23/2004

Loan Approval Gross Amount

$192,000

Loan Approval from the SBA

Of the total $192,000 loan amount, the SBA guaranteed $144,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Kalamazoo MI, you ought to talk with a local Kalamazoo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kalamazoo businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

SBIR Funding

SBA 7A Banks for Kalamazoo, Michigan Loans

Michigan SBA 7A Lenders