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May 10, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Big Lake, Business Loans > Kleinbank Big Lake Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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SBA Lender Big Lake, Minnesota
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Big Lake, Minnesota Bank Lends Money to Plumbing, Heating, And Air-Conditioning Contractors Company in Apple Valley, MinnesotaGet SBA loans from a Big Lake, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Kleinbank is a Big Lake, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender KLEINBANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 7/27/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 indicated that the loan would help generate 1 new job and retain 12 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Big Lake, Minnesota SBA Participating Banks in Minnesota
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