Raising Money for Scientific and Technical Consulting Services

With these business loans for scientific and technical consulting services, the SBA guarantees the lender that the loan will be repaid. This scientific and technical consulting services loan for $600,000 was given to a Minnesota entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Venture Bank, out of Bloomington, Minnesota. The loan was granted and they received $600,000 to help grow their Otsego, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
OTSEGO, MN 55339

SBA Loan Lender

VENTURE BANK
5601 GREEN VALLEY DR, STE 120
BLOOMINGTON, MN 55437

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541690 - Scientific and Technical Consulting Services

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 20 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This SBA loan was for $600,000. How would you spend $600,000 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:

504 Loans

SBA 7A Banks for Bloomington, Minnesota Loans

Getting an SBA Loan in Minnesota