Main Street Registry

Lakeview Inn

Dowagiac, MI · Full-Service Restaurants · NAICS 722511

Lakeview Inn is located in Dowagiac, MI, and the SBA lists its industry as Full-Service Restaurants. It was approved for an SBA 7(a) loan of $707,000 for a change of ownership on September 3, 2025.

SBA 7(a) loan, change of ownership, approved Sep 3, 2025

Gross approval
$707,000
SBA-guaranteed amount
$530,250 (75% of the approval)
Lender
First Merchants Bank, Indianapolis, IN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.25%, variable
Term
25 years (300 months)
Estimated maturity
September 3, 2050 (estimated, approval date plus term)
Estimated monthly payment
$6,550 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Dec 15, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
11
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Project location
Cass County, MI
SBA district office
Michigan District Office
Congressional district
MI-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Michigan