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May 7, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ramsey, Business Loans > Landmark Commun Bank Ramsey Business Loans > Food Preparations Loan | ||||
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Minnesota Small Business SBA Loans
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Growing Company Gets a Minnesota Bank LoanMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Landmark Commun Bank, this Montrose, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FOOD PREPARATIONS SBA Loan Lender LANDMARK COMMUN BANK This lender issued this particular small 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 2099 - Food Preparations NAICS Code 311999 - Food Manufacturing Loan Approval Date 3/27/2002 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money 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: Obtaining Funding - How to Borrow Money Best Banks for Small Business in Ramsey, Minnesota
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