Business Loans for Collection Agencies

Looking for business loans for collection agencies? An SBA loan may be just what you've been looking for. This $290,900 collection agencies loan was issued by a Minnesota bank.

Getting a small business loan in Sioux Falls, South Dakota was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank, operating out of Minneapolis, Minnesota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: COLLECTION AGENCIES
SIOUX FALLS, SD 57103

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This SBA loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561440 - Collection Agencies

Loan Approval Date

2/9/2007

Loan Approval Gross Amount

$290,900

Loan Approval from the SBA

Of the total $290,900 loan amount, the SBA guaranteed $218,175.

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 25 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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

Where to Get an SBA Loan in Minneapolis, Minnesota

Browse All Business Loan Sources for Minnesota