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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eagan, Business Loans > Minnwest Bank Metro Eagan Business Loans > Offices And Clinics Of Chiropractors Loan | ||||
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SBA 7A Banks for Small Business Owners in Minnesota
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Lakeville, Minnesota Entrepreneur Gets an SBA LoanWould a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs. This company, based in Lakeville, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Minnwest Bank Metro. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender MINNWEST BANK METRO This lender issued this particular small business 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 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 6/30/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $44,000. 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 only one employee. This SBA loan request did not indicate that the SBA funding recipient 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? 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. This SBA loan was for $55,000. How would you spend $55,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Eagan, Minnesota
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