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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Peoples Bank Of Commerce Minneapolis Business Loans > Apparel And Accessories Loan | ||||
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Peoples Bank Of Commerce Saint Paul
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Saint Paul, Minnesota Business Gets SBA-Guaranteed Funding from Peoples Bank Of CommercePeoples Bank Of Commerce has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in Saint Paul, Minnesota was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank Of Commerce, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: APPAREL AND ACCESSORIES SBA Loan Lender PEOPLES BANK OF COMMERCE This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2389 - Apparel and Accessories NAICS Code 315299 - Cut and Sew Apparel Manufacturing Loan Approval Date 2/16/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Peoples Bank Of Commerce that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Minneapolis, Minnesota
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