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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Western Bank Minneapolis Business Loans > Architectural Services Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Minneapolis, Minnesota Bank Lends Money to Architectural Services Company in Minneapolis, MinnesotaThinking about meeting with a Minneapolis, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with Western Bank worked out well for our friends at one local firm in Minneapolis, Minnesota. The business was able to get an SBA loan for $57,000. Awesome! SBA Loan Borrower COMPANY TYPE: ARCHITECTURAL SERVICES SBA Loan Lender WESTERN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541310 - Architectural Services Loan Approval Date 2/23/2004 Loan Approval Gross Amount $57,000 Loan Approval from the SBA Of the total $57,000 loan amount, the SBA guaranteed $48,450. 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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are raising money in Minneapolis MN, you ought to talk with a local Minneapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Minneapolis businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Western Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding From a Venture Capitalist Find an SBA Lender in Minneapolis, Minnesota Getting an SBA Loan in Minnesota
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