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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Superior, Business Loans > National Bank Of Commerce Superior Business Loans > Amusement And Recreation Services Loan | ||||
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National Bank Of Commerce SBA Loans Duluth, MN
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Duluth, Minnesota Business Gets SBA-Guaranteed Funding from National Bank Of CommerceNational Bank Of Commerce is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Duluth, Minnesota was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from National Bank Of Commerce, operating out of Superior, Wisconsin. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender NATIONAL BANK OF COMMERCE This lender issued this particular debt financing 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 7999 - Amusement and Recreation Services NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 4/8/2002 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 40 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. National Bank Of Commerce had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, National Bank Of Commerce made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Advice on Getting a Small Business Loan Best Banks for Small Business in Superior, Wisconsin
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