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April 29, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Manistique, Business Loans > Mbank Manistique Business Loans > Tmb Limited, Inc. Loan | ||||
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Requirements for Borrowing Money to Buy a Franchise
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Michigan Entrepreneur Secures Financing to Buy A & W Restaurant FranchiseBorrowing money to invest in an A & W Restaurant franchise? Mbank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Marquette, Michigan needed money to invest in an A & W Restaurant franchise back in 2002. Mbank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower TMB LIMITED, INC. SBA Loan Lender MBANK 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 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/24/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy an A & W Restaurant franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Small Bank Loans in Manistique, Michigan
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