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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Painting And Paper Hanging Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Loans for Painting and Wall CoveringLooking for loans for painting and wall covering? The SBA may be the answer. This $130,000 painting and wall covering loan was issued by a Minnesota bank. Getting a small business loan in Edina, Minnesota was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Venture Bank, operating out of Bloomington, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PAINTING AND PAPER HANGING SBA Loan Lender VENTURE BANK This lender issued this particular SBA 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 1721 - Painting and Paper Hanging NAICS Code 235210 - Painting and Wall Covering Loan Approval Date 4/2/2003 Loan Approval Gross Amount $130,000 Loan Approval from the SBA Of the total $130,000 loan amount, the SBA guaranteed $110,500. 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 16 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Banks in Bloomington, Minnesota
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