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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Nashwauk, Business Loans > American Bank Of The North Nashwauk Business Loans > Hotels And Motels Loan | ||||
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Raising Money in Deer River, Minnesota With SBA Loans
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Small Business Loans for Hotels and MotelsLooking for small business loans for hotels and motels? Try the SBA. This $112,000 hotels and motels loan was issued by a Minnesota bank. Getting a small business loan in Deer River, Minnesota was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of The North, operating out of Nashwauk, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender AMERICAN BANK OF THE NORTH As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 7/17/2006 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $84,000. 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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 American Bank Of The North 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: SBA Approved Banks in Nashwauk, Minnesota
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