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May 13, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Muskegon, Business Loans > Muskegon Commerce Bank Muskegon Business Loans > Cottman Transmissions Loan | ||||
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I Need a Small Business Loan to Buy a Franchise in Grand Rapids, Michigan
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Muskegon Commerce Bank Provides SBA Loan to Buy Cottman Transmission FranchiseNeed a loan to invest in a Cottman Transmission franchise? Muskegon Commerce Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Grand Rapids, Michigan needed money to invest in a Cottman Transmission franchise back in 2005. Muskegon Commerce Bank issued an SBA franchise loan. Here are the details on this Michigan small business loan. SBA Loan Borrower COTTMAN TRANSMISSIONS SBA Loan Lender MUSKEGON COMMERCE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/5/2005 Loan Approval Gross Amount $138,200 Loan Approval from the SBA Of the total $138,200 loan amount, the SBA guaranteed $117,470. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Grand Rapids or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: How Much Venture Capital Is There?
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