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May 10, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Muskegon, Business Loans > Community Shores Bank Muskegon Business Loans > Dentists Loan | ||||
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Muskegon, Michigan Bank Loan
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Muskegon, Michigan Entrepreneur Gets a Bank LoanWould a Michigan business loan help your company expand? If so, you may want to talk with this Michigan bank, which offers SBA loans to Michigan entrepreneurs. Getting a small business loan in Muskegon, Michigan was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community Shores Bank. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender COMMUNITY SHORES BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 621210 - Dentists Loan Approval Date 12/20/2006 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 not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Shores Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Banks in Muskegon, Michigan
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