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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Boat Dealers Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Boat Dealers Small Business LoansLooking for small business loans for boat dealers? An SBA loan may be just what you've been looking for. This $133,100 boat dealers 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 Bremer Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $133,100 to help grow their Willmar, Minnesota business. SBA Loan Borrower COMPANY TYPE: BOAT DEALERS SBA Loan Lender BREMER BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441222 - Boat Dealers Loan Approval Date 12/28/2004 Loan Approval Gross Amount $133,100 Loan Approval from the SBA Of the total $133,100 loan amount, the SBA guaranteed $113,135. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help create 3 new jobs. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Business Banks in Saint Cloud, Minnesota
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