 |
 |
May 2, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Advertising Agencies Loan | ||||
 |
||||
Saint Paul, Minnesota SBA Banks
|
||||
 |
Saint Paul, Minnesota Bank Lends Money to Advertising Agencies Company in Minneapolis, MinnesotaThinking about meeting with a Saint Paul, Minnesota bank about an SBA 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 Park Midway Bank worked out well for our friends at one local firm in Minneapolis, Minnesota. The business was able to get an SBA loan for $601,000. Great job! SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender PARK MIDWAY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541810 - Advertising Agencies Loan Approval Date 9/27/2002 Loan Approval Gross Amount $601,000 Loan Approval from the SBA Of the total $601,000 loan amount, the SBA guaranteed $450,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 21 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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
|
|
||
|
||||
|
|
||||