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May 7, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cambridge, Business Loans > Cambridge State Bank Cambridge Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Cambridge, Minnesota SBA Banks
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Cambridge, Minnesota Bank Lends Money to Beer, Wine, And Liquor Stores Company in Coon Rapids, MinnesotaThinking about meeting with a Cambridge, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Cambridge bank, that was approved by the SBA. Applying for an SBA loan with Cambridge State Bank worked out well for our friends at one local company in Coon Rapids, Minnesota. They got an SBA loan for $525,000. Great job! SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender CAMBRIDGE STATE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 10/14/2005 Loan Approval Gross Amount $525,000 Loan Approval from the SBA Of the total $525,000 loan amount, the SBA guaranteed $393,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 7A Banks in Cambridge, Minnesota Where to Get an SBA Loan Minnesota
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