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May 7, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Michael, Business Loans > Highland Bank Saint Michael Business Loans > Personal Services Loan | ||||
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SBA Lender Minnesota
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Business Loan from Highland Bank Given to Personal Services CompanyAn SBA loan from Highland Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Spring Lake Park, Minnesota business owner got a $100,000 loan. This business knew how to go about getting a business bank loan. Based in Spring Lake Park, Minnesota, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Highland Bank, based in Saint Michael, Minnesota. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender HIGHLAND BANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812990 - Personal Services Loan Approval Date 6/23/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 21 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to find other ways to get money to start a business, 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: Good Banks for Small Business in Saint Michael, Minnesota
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