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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 > Motion Picture Theaters Loan | ||||
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Muskegon Commerce Bank
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Muskegon Commerce Bank SBA Loan to Motion Picture Theaters CompanyMuskegon Commerce Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Michigan entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Muskegon, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Muskegon Commerce Bank, based in Muskegon, Michigan. SBA Loan Borrower COMPANY TYPE: MOTION PICTURE THEATERS SBA Loan Lender MUSKEGON COMMERCE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 512131 - Motion Picture Theaters Loan Approval Date 8/31/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Muskegon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 - How to Borrow Money SBA Approved Banks in Muskegon, Michigan Where to Get an SBA Loan Michigan
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