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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Highland Bank Minneapolis Business Loans > Communications Services Loan | ||||
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Minnesota Bank SBA Loans
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Highland Bank SBA Loan to Communications Services CompanyWant a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $115,000 from Highland Bank. The SBA made the loan possible by guaranteeing $86,250 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMUNICATIONS SERVICES SBA Loan Lender HIGHLAND 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. SIC Code 4899 - Communications Services Loan Approval Date 9/6/2000 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $86,250. 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 20 employees. This SBA loan request did not indicate that the business 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? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Good Banks for Small Business in Minneapolis, Minnesota Getting an SBA Loan in Minnesota
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