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May 14, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Muskegon, Business Loans > Muskegon Commerce Bank Muskegon Business Loans > Hotels And Motels Loan | ||||
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We Needed an SBA 7A Loan in Muskegon, Michigan and We Got One!
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Raising Money for Hotels and MotelsLooking for business loans for hotels and motels? Talk to a banker who works with the SBA. This $227,000 hotels and motels loan was issued by a Michigan bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muskegon, Michigan was able to borrow $227,000 from Muskegon Commerce Bank. The SBA made the loan possible by guaranteeing $170,250 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender MUSKEGON COMMERCE BANK This lender provides SBA guaranteed bank 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 721110 - Hotels and Motels Loan Approval Date 10/26/2006 Loan Approval Gross Amount $227,000 Loan Approval from the SBA Of the total $227,000 loan amount, the SBA guaranteed $170,250. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 $227,000 loan. Remember, if it to be, it is up to me! 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: A Company That Helps Entrepreneurs Best Banks for Small Business in Muskegon, Michigan
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