Muskegon, Michigan Business Gets SBA-Guaranteed Funding from Muskegon Commerce Bank

An SBA loan from Muskegon Commerce 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 $350,000 loan.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Muskegon Commerce Bank, out of Muskegon, Michigan. The loan was granted and they received $350,000 to help grow their Muskegon, Michigan business.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
MUSKEGON, MI 49442

SBA Loan Lender

MUSKEGON COMMERCE BANK
281 SEMINOLE RD
MUSKEGON, MI 49444

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

333512 - Machine Tool Manufacturing

Loan Approval Date

3/29/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 60 employees. The SBA loan application for the borrower indicated that the loan would help retain 60 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Muskegon Commerce Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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