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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > New Ulm, Business Loans > Alliance Bank New Ulm Business Loans > Commercial Printing Loan | ||||
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Banks Doing SBA Loans in Minnesota
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New Ulm, Minnesota Lender Lends Money to Commercial Printing CompanyThinking about meeting with a New Ulm, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a New Ulm bank, that was approved by the SBA. Applying for an SBA loan with Alliance Bank worked out well for our friends at one local firm in Saint Paul, Minnesota. They got an SBA loan for $75,000. Way to go! SBA Loan Borrower COMPANY TYPE: COMMERCIAL PRINTING SBA Loan Lender ALLIANCE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2759 - Commercial Printing NAICS Code 323112 - Commercial Flexographic Printing Loan Approval Date 6/18/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alliance Bank and they will explain how you can get an SBA loan for your company. 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: Raising VC Money for Social Networking Companies SBA Participating Banks in New Ulm, Minnesota Where to Get an SBA Loan Minnesota
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