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May 19, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > South Bend, Business Loans > 1st Source Bank South Bend Business Loans > Full-Service Restaurants Loan | ||||
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South Bend SBA Lenders
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South Bend, Indiana Bank Gives SBA Loan to Full-Service Restaurants CompanyGet small business loans from a South Bend, Indiana bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. 1st Source Bank is a South Bend, Indiana small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Michigan company. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST SOURCE BANK This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/27/2005 Loan Approval Gross Amount $374,300 Loan Approval from the SBA Of the total $374,300 loan amount, the SBA guaranteed $280,725. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 50 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $374,300 loan. Remember, fight for what you want, and it will be yours! 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 Banks in South Bend, Indiana
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