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May 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Albert Lea, Business Loans > Security Bank Minnesota Albert Lea Business Loans > Beauty Shops Loan | ||||
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Albert Lea Business Loan from Security Bank Minnesota
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Business Loan from Security Bank Minnesota Given to Beauty Shops CompanyAn SBA loan from Security Bank Minnesota typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Albert Lea, Minnesota business owner got a $57,000 loan. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Security Bank Minnesota, out of Albert Lea, Minnesota. The loan was granted and they received $57,000 to help grow their Albert Lea, Minnesota business. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender SECURITY BANK MINNESOTA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 3/13/2002 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $48,450. 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 12 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. 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: SBA Banks in Albert Lea, Minnesota
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