Where to Get Capital for Musical Groups and Artists

With these SBA loans for musical groups and artists, the SBA guarantees the lender that the loan will be repaid. This musical groups and artists loan for $30,000 was given to a Michigan entrepreneur in 2005.

Getting a small business loan in Grand Haven, Michigan was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Grand Haven Bank, operating out of Grand Haven, Michigan. Here are the details on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: MUSICAL GROUPS AND ARTISTS
GRAND HAVEN, MI 49417

SBA Loan Lender

GRAND HAVEN BANK
333 WASHINGTON AVE
GRAND HAVEN, MI 49417

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

711130 - Musical Groups and Artists

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Grand Haven Bank and they will explain how you can get an SBA loan for your company.

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 - Friends and Family

Good Banks for Small Business in Grand Haven, Michigan

Getting a Business Loan in Michigan