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May 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Deer River, Business Loans > Woodland Bank Deer River Business Loans > Continuing Care Retirement Communities Loan | ||||
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Woodland Bank Small Business Loan
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Continuing Care Retirement Communities Business LoansLooking for business loans for continuing care retirement communities? An SBA loan may be just what you've been looking for. This $350,000 continuing care retirement communities loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Grand Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Woodland Bank, based in Deer River, Minnesota. SBA Loan Borrower COMPANY TYPE: CONTINUING CARE RETIREMENT COMMUNITIES SBA Loan Lender WOODLAND BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 623311 - Continuing Care Retirement Communities Loan Approval Date 5/20/2002 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 20 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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 for Deer River, Minnesota Loans
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