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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Forks, Business Loans > Community Bank - Red River Valle Grand Forks Business Loans > Retail Bakeries Loan | ||||
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North Dakota Bank SBA Loans
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Community Bank - Red River Valle SBA Loan to Retail Bakeries CompanyWant a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA. This small business needed an SBA business loan in East Grand Forks, Minnesota back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Community Bank - Red River Valle, operating out of Grand Forks, North Dakota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender COMMUNITY BANK - RED RIVER VALLE This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries Loan Approval Date 3/1/2000 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $28,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source 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 Community Bank - Red River Valle 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: Best Grand Forks, North Dakota Banks for Small Business
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