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April 20, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Grand Rapids, Business Loans > Fifth Third Bank Grand Rapids Business Loans > Big Apple Bagels Loan | ||||
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Allen Park, Michigan Bank for SBA Loans
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Fifth Third Bank Provides SBA Loan to Buy Big Apple Bagels FranchiseNeed a loan to buy a Big Apple Bagels franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Allen Park, Michigan needed money to invest in a Big Apple Bagels franchise back in 2004. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower BIG APPLE BAGELS SBA Loan Lender FIFTH THIRD BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 5/4/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Big Apple Bagels franchise. At the time of the loan, the company had 16 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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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