Muskegon, Michigan Entrepreneur Gets an SBA Loan

Want a Michigan SBA loan? This Michigan entrepreneur got an SBA loan, provided by a Michigan bank that works with the SBA to help small business owners.

This small business, based in Muskegon, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Muskegon Commerce Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
MUSKEGON, MI 49441

SBA Loan Lender

MUSKEGON COMMERCE BANK
281 SEMINOLE RD
MUSKEGON, MI 49444

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

9/13/2007

Loan Approval Gross Amount

$173,300

Loan Approval from the SBA

Of the total $173,300 loan amount, the SBA guaranteed $129,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $173,300 loan. Remember, fight for what you want, and it will be yours!

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:

Accountant's Role in Securing Financing

SBA 7A Banks for Muskegon, Michigan Loans

Michigan SBA 7A Lenders