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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > St. Stephen State Bank Saint Cloud Business Loans > Commercial And Institutional Building Construction Loan | ||||
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Small Business Banks for Clearwater Entrepreneurs
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Financing for Commercial and Institutional Building ConstructionLooking for loans for commercial and institutional building construction? An SBA loan may be just what you've been looking for. This $550,000 commercial and institutional building construction loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clearwater, Minnesota was able to borrow $550,000 from St. Stephen State Bank. The SBA made the loan possible by guaranteeing $412,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender ST. STEPHEN STATE BANK This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 1/7/2002 Loan Approval Gross Amount $550,000 Loan Approval from the SBA Of the total $550,000 loan amount, the SBA guaranteed $412,500. 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 22 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from St. Stephen State 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. Related Links: Raising VC Money for Social Networking Companies SBA 7A Banks in Saint Cloud, Minnesota Getting an SBA Loan in Minnesota
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