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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Drake Bank Saint Paul Business Loans > Landscaping Services Loan | ||||
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How Do We Get a Business Loan in Minneapolis, Minnesota?
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Where to Get Capital for Landscaping ServicesLooking for SBA loans for landscaping services? Try the SBA. This $150,000 landscaping services loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $150,000 from Drake Bank. The SBA made the loan possible by guaranteeing $75,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: LANDSCAPING SERVICES SBA Loan Lender DRAKE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 561730 - Landscaping Services Loan Approval Date 1/31/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 18 new jobs and retain 14 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Obtaining Funding - How to Borrow Money SBA Banks in Saint Paul, Minnesota Getting an SBA Loan in Minnesota
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