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May 9, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Muskegon, Business Loans > Community Shores Bank Muskegon Business Loans > Cutting Tool And Machine Tool Accessory Manufacturing Loan | ||||
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Small Business Banks for Muskegon, Michigan Businesses
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Cutting Tool and Machine Tool Accessory Manufacturing Business LoansLooking for business loans for cutting tool and machine tool accessory manufacturing? An SBA loan may be just what you've been looking for. This $799,540 cutting tool and machine tool accessory manufacturing loan was issued by a Michigan bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Community Shores Bank, out of Muskegon, Michigan. The loan was granted and they received $799,540 to help grow their Muskegon, Michigan business. SBA Loan Borrower COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING SBA Loan Lender COMMUNITY SHORES BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333515 - Cutting Tool and Machine Tool Accessory Manufacturing Loan Approval Date 4/19/2005 Loan Approval Gross Amount $799,540 Loan Approval from the SBA Of the total $799,540 loan amount, the SBA guaranteed $599,655. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 28 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $799,540 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Muskegon, Michigan Loans
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