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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Two Harbors, Business Loans > The Lake Bank Two Harbors Business Loans > Eating Places Loan | ||||
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Minnesota Bank SBA Loans
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The Lake Bank SBA Loan to Eating Places CompanyWant a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Duluth, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was The Lake Bank, based in Two Harbors, Minnesota. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE LAKE BANK This lender issued this particular bank 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 5812 - Eating Places Loan Approval Date 7/19/2000 Loan Approval Gross Amount $61,000 Loan Approval from the SBA Of the total $61,000 loan amount, the SBA guaranteed $48,800. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Duluth or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Borrowing Money from Friends and Family SBA Approved Banks in Two Harbors, Minnesota
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