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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Belgrade, Business Loans > North American State Bank Belgrade Business Loans > Boat Dealers Loan | ||||
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North American State Bank Small Business Loan
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Boat Dealers Commercial LoansLooking for commercial loans for boat dealers? Try the SBA. This $150,000 boat dealers loan was issued by a Minnesota bank. Getting a small business loan in Dassel, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from North American State Bank, operating out of Belgrade, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: BOAT DEALERS SBA Loan Lender NORTH AMERICAN STATE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5551 - Boat Dealers NAICS Code 441222 - Boat Dealers Loan Approval Date 9/25/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like North American State Bank and they will explain how you can get an SBA loan for your company. 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: Small Business Banks in Belgrade, Minnesota
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