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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 > Full-Service Restaurants Loan | ||||
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Muskegon, Michigan Bank Loan
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Muskegon, Michigan Entrepreneur Gets a Business LoanSearching for 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. You can learn something about getting a small business loan in Muskegon, Michigan by studying this loan to a local business, made back in 2006. Banks like Community Shores Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMUNITY SHORES BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/6/2006 Loan Approval Gross Amount $211,000 Loan Approval from the SBA Of the total $211,000 loan amount, the SBA guaranteed $158,250. 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 18 employees. The loan application indicated that the loan would help retain 18 existing jobs. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Shores Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding From a Venture Capitalist
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