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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Willmar, Business Loans > Lake Region Bank Willmar Business Loans > Radio And Television Broadcasting And Wireless Communications Equipment Loan | ||||
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Raising Money in Omaha, Minnesota With SBA Loans
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Small Business Loans for Radio and Television Broadcasting and Wireless Communications EquipmentLooking for small business loans for radio and television broadcasting and wireless communications equipment? Talk to a banker who works with the SBA. This $740,000 radio and television broadcasting and wireless communications equipment loan was issued by a Minnesota bank. This company knew how to go about getting a business bank loan. Based in Omaha, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Lake Region Bank, based in Willmar, Minnesota. SBA Loan Borrower COMPANY TYPE: RADIO AND TELEVISION BROADCASTING AND WIRELESS COMMUNICATIONS EQUIPMENT SBA Loan Lender LAKE REGION BANK This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Loan Approval Date 12/23/2003 Loan Approval Gross Amount $740,000 Loan Approval from the SBA Of the total $740,000 loan amount, the SBA guaranteed $303,400. 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 76 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lake Region Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lake Region Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Best Willmar, Minnesota Banks for Small Business
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