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May 2, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Blaine, Business Loans > Boundary Waters Bank Blaine Business Loans > Lawn And Garden Services Loan | ||||
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Minneapolis SBA Loan from Boundary Waters Bank
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Business Loan from Boundary Waters Bank Given to Lawn And Garden Services CompanyBoundary Waters Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $150,000 from Boundary Waters Bank. The SBA made the loan possible by guaranteeing $127,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender BOUNDARY WATERS BANK This lender issued this particular 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 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 10/1/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 7 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $150,000. How would you spend $150,000 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: Raising VC Money for Social Networking Companies Small Bank Loans in Blaine, Minnesota Getting an SBA Loan in Minnesota
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