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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cambridge, Business Loans > Peoples Bank Of Commerce Cambridge Business Loans > Offices And Clinics Of Chiropractors Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Where to Get Capital for ChiropractorsLooking for SBA loans for chiropractors? Try the SBA. This $96,000 chiropractors loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eden Prairie, Minnesota was able to borrow $96,000 from Peoples Bank Of Commerce. The SBA made the loan possible by guaranteeing $81,600 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender PEOPLES BANK OF COMMERCE This lender issued this particular business 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 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 5/23/2001 Loan Approval Gross Amount $96,000 Loan Approval from the SBA Of the total $96,000 loan amount, the SBA guaranteed $81,600. 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 2 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. 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 Peoples Bank Of Commerce 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: Role of Business Plan When Raising Money SBA Participating Banks in Cambridge, Minnesota SBA Participating Banks in Minnesota
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