 |
 |
May 4, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > General Rental Centers Loan | ||||
 |
||||
Minnesota Business Loans from Venture Bank
|
||||
 |
Rogers, Minnesota Business Gets SBA-Guaranteed Funding from Venture BankVenture Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Rogers, Minnesota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Venture Bank, based in Bloomington, Minnesota. SBA Loan Borrower COMPANY TYPE: GENERAL RENTAL CENTERS SBA Loan Lender VENTURE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532310 - General Rental Centers Loan Approval Date 2/27/2001 Loan Approval Gross Amount $345,000 Loan Approval from the SBA Of the total $345,000 loan amount, the SBA guaranteed $258,750. 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 5 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you 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. 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: SBA 7A Lenders in Bloomington, Minnesota
|
|
||
|
||||
|
|
||||