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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 > Engineering Services Loan | ||||
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Getting a Commercial Loan from Bremer Bank
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SBA Loan from Bremer Bank Helps Engineering Services CompanyAn SBA loan from Bremer Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Willmar, Minnesota business owner got a $80,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Willmar, Minnesota was able to borrow $80,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $40,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender BREMER BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 541330 - Engineering Services Loan Approval Date 7/13/2007 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, 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: Advice on Getting a Small Business Loan SBA Banks in Saint Cloud, Minnesota Find an SBA Lender in Minnesota
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