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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Scientific And Technical Consulting Services Loan | ||||
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Minnesota Small Business Funding
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Business Loans for Scientific and Technical Consulting ServicesWith 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 $300,000 was given to a Minnesota entrepreneur in 2005. Getting a small business loan in Otsego, Minnesota was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Venture Bank, operating out of Bloomington, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES SBA Loan Lender VENTURE 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 541690 - Scientific and Technical Consulting Services Loan Approval Date 10/26/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Venture Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Venture 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 Banks in Bloomington, Minnesota
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