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May 15, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Croswell, Business Loans > Eastern Michigan Bank Croswell Business Loans > Limited-Service Restaurants Loan | ||||
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Croswell SBA Lenders
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Entrepreneur Works With Croswell, Michigan Bank to Get an SBA LoanThinking about meeting with a Croswell, Michigan bank about an SBA loan? Here's one Michigan business loan, issued by a Croswell bank, that was approved by the SBA. Applying for an SBA loan with Eastern Michigan Bank worked out well for our friends at one local firm in Port Huron, Michigan. The business was able to get an SBA loan for $150,000. Great job! SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender EASTERN MICHIGAN BANK This lender issued this particular loan for a small business 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 10/18/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, fight for what you want, and it will be yours! 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 Lenders in Croswell, Michigan
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