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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Automobile And Motor Vehicle Wholesalers Loan | ||||
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SBA Lenders in Sauk Rapids
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Bremer Bank SBA Loan to Automobile And Motor Vehicle Wholesalers CompanyBremer Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Sauk Rapids, Minnesota was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank, operating out of Saint Cloud, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOBILE AND MOTOR VEHICLE WHOLESALERS SBA Loan Lender BREMER 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 421110 - Automobile and Motor Vehicle Wholesalers Loan Approval Date 12/5/2000 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 27 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 27 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We can help you find the best banks for small businesses in Sauk Rapids or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Approved Banks in Saint Cloud, Minnesota
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