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April 26, 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 > Samuel Mancino's Italian Eater Loan | ||||
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Where to Get a Bank Loan to Purchase a Franchise
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Borrow Money to Buy a Samuel Mancino's Italian Eatery FranchiseNeed money to purchase a Samuel Mancino's Italian Eatery franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Grand Rapids, Michigan needed money to invest in a Samuel Mancino's Italian Eatery franchise back in 2001. Fifth Third Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower SAMUEL MANCINO'S ITALIAN EATER SBA Loan Lender FIFTH THIRD BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/12/2001 Loan Approval Gross Amount $58,000 Loan Approval from the SBA Of the total $58,000 loan amount, the SBA guaranteed $29,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Samuel Mancino's Italian Eatery franchise. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fifth Third Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Decide How Much to Raise Small Business Banks in Grand Rapids, Michigan SBA Participating Banks in Michigan
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