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February 16, 2025 |
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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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Community Shores Bank Muskegon, Michigan
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Business Loan from Community Shores Bank Given to Full-Service Restaurants CompanyCommunity Shores Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Muskegon, Michigan was able to borrow $379,464 from Community Shores Bank. The SBA made the loan possible by guaranteeing $284,598 of this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMUNITY SHORES BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/22/2007 Loan Approval Gross Amount $379,464 Loan Approval from the SBA Of the total $379,464 loan amount, the SBA guaranteed $284,598. 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 30 employees. The loan application indicated that the loan would help generate 11 new jobs and retain 19 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find business people willing to loan money, 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: SBA Banks in Muskegon, Michigan
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