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December 22, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Muskegon, Business Loans > Community Shores Bank Muskegon Business Loans > Machine Shops Loan | ||||
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Small Business Banks for Twin Lake Business Owners
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Borrowing Money for Machine ShopsWith these bank loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $62,000 was given to a Michigan entrepreneur in 2006. Getting a small business loan in Twin Lake, Michigan was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community Shores Bank, operating out of Muskegon, Michigan. Here are the details on this Michigan small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender COMMUNITY SHORES BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332710 - Machine Shops Loan Approval Date 3/8/2006 Loan Approval Gross Amount $62,000 Loan Approval from the SBA Of the total $62,000 loan amount, the SBA guaranteed $52,700. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - How to Borrow Money SBA 7A Banks for Muskegon, Michigan Loans
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