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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > The Business Bank Minnetonka Business Loans > Data Processing, Hosting, And Related Services Loan | ||||
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SBA Lender Wayzata Minnesota
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Business Loans for Data Processing, Hosting, and Related ServicesLooking for business loans for data processing, hosting, and related services? An SBA loan may be just what you've been looking for. This $2,000,000 data processing, hosting, and related services loan was issued by a Minnesota bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The Business Bank, out of Minnetonka, Minnesota. The loan was granted and they received $2,000,000 to help grow their Wayzata, Minnesota business. SBA Loan Borrower COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES SBA Loan Lender THE BUSINESS BANK This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 518210 - Data Processing, Hosting, and Related Services Loan Approval Date 10/20/2005 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 40 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Wayzata MN, you ought to talk with a local Wayzata SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wayzata businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 for Minnetonka, Minnesota Loans
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