Muskegon Commerce Bank Provides SBA Loan to Buy Maui Wowi Franchise

Borrowing money to purchase a Maui Wowi franchise? Muskegon Commerce Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Muskegon, Michigan and are interested in buying a Maui Wowi franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Muskegon Commerce Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAUI WOWI
MUSKEGON, MI 49444

SBA Loan Lender

MUSKEGON COMMERCE BANK
281 SEMINOLE RD
MUSKEGON, MI 49444

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

4/19/2004

Loan Approval Gross Amount

$80,325

Loan Approval from the SBA

Of the total $80,325 loan amount, the SBA guaranteed $68,276.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Maui Wowi franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Muskegon Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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