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April 27, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bannockburn, Business Loans > National City Bank Bannockburn Business Loans > Bomper & Emma Company Loan | ||||
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I Need an SBA 7A Loan to Buy a Franchise in Portage, Michigan
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Portage, MI Entrepreneur Gets SBA Loan to Buy Beaner's Gourmet Coffee FranchiseBorrowing money to buy a Beaner's Gourmet Coffee franchise? National City Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Portage, Michigan needed money to invest in a Beaner's Gourmet Coffee franchise back in 2002. National City Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower BOMPER & EMMA COMPANY SBA Loan Lender NATIONAL CITY BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 4/12/2002 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Beaner's Gourmet Coffee franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 16 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Determining Proper Capital Structure for a Business SBA 7A Banks in Bannockburn, Illinois
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