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May 12, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Indianapolis, Business Loans > National City Bank Indianapolis Business Loans > Eating Places Loan | ||||
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Raising Money in Birmingham, Michigan With SBA Loans
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Get an SBA Loan for Full-Service RestaurantsWith these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $110,000 was given to a Michigan entrepreneur in 2003. This company knew how to go about getting a business bank loan. Based in Birmingham, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National City Bank, based in Indianapolis, Indiana. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NATIONAL CITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/7/2003 Loan Approval Gross Amount $110,000 Loan Approval from the SBA Of the total $110,000 loan amount, the SBA guaranteed $93,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Indianapolis, Indiana
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