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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 > Radio, Television, And Electronics Stores Loan | ||||
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Michigan Bank SBA Loans
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Community Shores Bank SBA Loan to Radio, Television, And Electronics Stores CompanyAn SBA loan from Community Shores Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Muskegon, Michigan business owner got a $50,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muskegon, Michigan was able to borrow $50,000 from Community Shores Bank. The SBA made the loan possible by guaranteeing $25,000 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES SBA Loan Lender COMMUNITY SHORES BANK This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 443112 - Radio, Television, and Electronics Stores Loan Approval Date 3/1/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Determining Proper Capital Structure for a Business Who Lends Money to Small Businesses in Muskegon, Michigan
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