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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Roofing Contractors Loan | ||||
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SBA Lenders for Entrepreneurs in Minnesota
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Minnesota Small Business Loan Issued to Roofing Contractors CompanyMinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in St. Paul, Minnesota was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Venture Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ROOFING CONTRACTORS SBA Loan Lender VENTURE BANK This lender issued this loan under the SBA 7A lending program , 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 238160 - Roofing Contractors Loan Approval Date 7/9/2004 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 50 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We've showcased information on this loan to let you know that businesses like yours 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: SBA 7A Banks in Bloomington, Minnesota
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