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April 26, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Detroit, Business Loans > Detroit Commerce Bank Detroit Business Loans > Urban Restaurant Group, LLC Loan | ||||
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Where to Get a Small Business Loan to Purchase a Franchise
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Detroit Commerce Bank Provides SBA Loan to Buy Buffalo Wings & Rings FranchiseBorrowing money to purchase a Buffalo Wings & Rings franchise? Detroit Commerce Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Buffalo Wings & Rings franchise? If so, here's a 2008 SBA franchise loan that you should know about. Detroit Commerce Bank was the lender and the entrepreneur was based in Oak Park, Michigan. SBA Loan Borrower URBAN RESTAURANT GROUP, LLC SBA Loan Lender DETROIT COMMERCE BANK This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/12/2008 Loan Approval Gross Amount $296,000 Loan Approval from the SBA Of the total $296,000 loan amount, the SBA guaranteed $222,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Buffalo Wings & Rings franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Find an SBA Lender in Detroit, Michigan
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