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May 7, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hutchinson, Business Loans > Citizens Bank & Trust Hutchinson Business Loans > Lawn And Garden Services Loan | ||||
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Minnesota SBA Lenders
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Hutchinson, Minnesota Bank Gives SBA Loan to Lawn And Garden Services CompanyWant to talk with a Hutchinson, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Hutchinson bank, that was approved by the SBA. Applying for an SBA loan with Citizens Bank & Trust worked out well for our friends at one local company in Hutchinson, Minnesota. They got an SBA loan for $30,000. Nice! SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender CITIZENS BANK & TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 3/14/2003 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Bank & Trust 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: Determining Proper Capital Structure for a Business Best Hutchinson, Minnesota Banks for Small Business
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