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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eagan, Business Loans > American Bank Of St. Paul Eagan Business Loans > Communications Services Loan | ||||
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How to Get SBA Loans in Burnsville, Minnesota
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Small Business Loans for Satellite TelecommunicationsLooking for small business loans for satellite telecommunications? Talk to a banker who works with the SBA. This $60,000 satellite telecommunications loan was issued by a Minnesota bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with American Bank Of St. Paul, out of Eagan, Minnesota. The loan was granted and they received $60,000 to help grow their Burnsville, Minnesota business. SBA Loan Borrower COMPANY TYPE: COMMUNICATIONS SERVICES SBA Loan Lender AMERICAN BANK OF ST. PAUL This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4899 - Communications Services NAICS Code 513340 - Satellite Telecommunications Loan Approval Date 6/14/2002 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 64 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Determining Proper Capital Structure for a Business Small Bank Loans in Eagan, Minnesota
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