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May 3, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > American Bank Of St. Paul Saint Paul Business Loans > Remediation Services Loan | ||||
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St. Paul, Minnesota Bank for SBA Loans
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Remediation Services Small Business LoansLooking for small business loans for remediation services? The SBA may be the answer. This $2,000,000 remediation services loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with American Bank Of St. Paul, out of Saint Paul, Minnesota. The loan was granted and they received $2,000,000 to help grow their St. Paul, Minnesota business. SBA Loan Borrower COMPANY TYPE: REMEDIATION SERVICES SBA Loan Lender AMERICAN BANK OF ST. PAUL This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 562910 - Remediation Services Loan Approval Date 8/24/2004 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 65 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like American Bank Of St. Paul 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: Good Banks for Small Business in Saint Paul, Minnesota
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