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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Elk River, Business Loans > 1st National Bank - Elk River Elk River Business Loans > Book Publishers Loan | ||||
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Minnesota SBA Loans from 1st National Bank - Elk River
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SBA Loan from 1st National Bank - Elk River Helps Book Publishers CompanyAn SBA loan from 1st National Bank - Elk River typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Excelsior, Minnesota business owner got a $20,000 loan. This business knew how to go about getting a business bank loan. Based in Excelsior, Minnesota, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was 1st National Bank - Elk River, based in Elk River, Minnesota. SBA Loan Borrower COMPANY TYPE: BOOK PUBLISHERS SBA Loan Lender 1ST NATIONAL BANK - ELK RIVER This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 511130 - Book Publishers Loan Approval Date 3/27/2006 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 1st National Bank - Elk River 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: Realistic Debt Financing Options SBA Banks in Elk River, Minnesota
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