Okemos, MI Entrepreneur Gets SBA Loan to Buy Charley's Grilled Subs Franchise

Need money to purchase a Charley's Grilled Subs franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Charley's Grilled Subs franchise loans are available to Okemos, Michigan entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Grand Rapids, Michigan, issued an SBA franchise loan for a Charley's Grilled Subs franchise in 2003. We've got all the details on this Michigan small business loan.

SBA Loan Borrower

CHARLEYS STEAKERY
OKEMOS, MI 48864

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/31/2003

Loan Approval Gross Amount

$183,000

Loan Approval from the SBA

Of the total $183,000 loan amount, the SBA guaranteed $137,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Charley's Grilled Subs franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Okemos MI, you ought to talk with a local Okemos SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Okemos businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Fifth Third Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Charley's Grilled Subs

Alternative Financing

Who Lends Money to Small Businesses in Grand Rapids, Michigan

SBA Lenders in Michigan