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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ely, Business Loans > Boundary Waters Bank Ely Business Loans > Commercial Printing Loan | ||||
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Boundary Waters Bank
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Delano, Minnesota Business Gets SBA-Guaranteed Funding from Boundary Waters BankBoundary Waters Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Delano, Minnesota was able to borrow $94,000 from Boundary Waters Bank. The SBA made the loan possible by guaranteeing $79,900 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PRINTING SBA Loan Lender BOUNDARY WATERS BANK This lender issued this particular commercial 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 2759 - Commercial Printing NAICS Code 323114 - Quick Printing Loan Approval Date 6/7/2001 Loan Approval Gross Amount $94,000 Loan Approval from the SBA Of the total $94,000 loan amount, the SBA guaranteed $79,900. 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. This SBA loan was for $94,000. How would you spend $94,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Ely, Minnesota Banks for Small Business Getting an SBA Loan in Minnesota
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