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May 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Long Lake, Business Loans > Lake Community Bank Long Lake Business Loans > Furniture Stores Loan | ||||
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Minnesota Bank SBA Loans
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Long Lake, Minnesota Bank Lends Money to Furniture Stores Company in Long Lake, MinnesotaThinking about meeting with a Long Lake, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Long Lake bank, that was approved by the SBA. Applying for an SBA loan with Lake Community Bank worked out well for our friends at one local business in Long Lake, Minnesota. The business was able to get an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender LAKE COMMUNITY BANK 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. NAICS Code 442110 - Furniture Stores Loan Approval Date 10/25/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 6 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money We can help you find the best banks for small businesses in Long Lake or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: A Company That Helps Entrepreneurs Best Banks in Long Lake, Minnesota Getting a Business Loan in Minnesota
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