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May 8, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Roseville, Business Loans > North American Banking Company Roseville Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Business Loans for Eagan Businesses
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Raising Money for Plumbing, Heating, and Air-Conditioning ContractorsLooking for business loans for plumbing, heating, and air-conditioning contractors? Talk to a banker who works with the SBA. This $100,000 plumbing, heating, and air-conditioning contractors loan was issued by a Minnesota bank. Getting a small business loan in Eagan, Minnesota was important for this small business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from North American Banking Company, operating out of Roseville, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender NORTH AMERICAN BANKING COMPANY This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 1/15/2008 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 9 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 9 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source Who Lends Money to Small Businesses in Roseville, Minnesota SBA Participating Banks in Minnesota
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