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May 3, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Monroe, Business Loans > Monroe Bank & Trust Monroe Business Loans > Ready Set Dine, LLC Loan | ||||
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Tips for Borrowing Money to Buy a Franchise
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Lambertville, MI Entrepreneur Gets SBA Loan to Buy Dream Dinners FranchiseNeed a loan to buy a Dream Dinners franchise? Monroe Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Dream Dinners franchise loans are available to Lambertville, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Monroe Bank & Trust, based in Monroe, Michigan, issued an SBA franchise loan for a Dream Dinners franchise in 2005. We've got all the details on this Michigan small business loan. SBA Loan Borrower READY SET DINE, LLC SBA Loan Lender MONROE BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 452990 - General Merchandise Stores Loan Approval Date 4/15/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Dream Dinners franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Monroe Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Role of Business Plan When Raising Money Small Bank Loans in Monroe, Michigan
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