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May 3, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Eden Prairie, Business Loans > Voyager Bank Eden Prairie Business Loans > Business Services Loan | ||||
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SBA Lender Eden Prairie
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Entrepreneur Works With Eden Prairie, Minnesota Bank to Get an SBA LoanThinking about meeting with an Eden Prairie, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by an Eden Prairie bank, that was approved by the SBA. Applying for an SBA loan with Voyager Bank worked out well for our friends at one local firm in Saint Cloud, Minnesota. The business was able to get an SBA loan for $125,000. Awesome! SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender VOYAGER BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 541370 - Surveying and Mapping Services Loan Approval Date 8/15/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 38 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Voyager Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Voyager 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 Banks for Eden Prairie, Minnesota Loans
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