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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Drake Bank Saint Paul Business Loans > Landscape Architectural Services Loan | ||||
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Minnesota SBA Banks
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Saint Paul, Minnesota Bank Lends Money to Landscape Architectural Services Company in Forest Lake, MinnesotaWant to talk with a Saint Paul, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA. Applying for an SBA loan with Drake Bank worked out well for our friends at one local company in Forest Lake, Minnesota. They received an SBA loan for $125,000. Way to go! SBA Loan Borrower COMPANY TYPE: LANDSCAPE ARCHITECTURAL SERVICES SBA Loan Lender DRAKE BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 541320 - Landscape Architectural Services Loan Approval Date 10/31/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Drake Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Who Lends Money to Small Businesses in Saint Paul, Minnesota
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