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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ely, Business Loans > Boundary Waters Bank Ely Business Loans > Store Retailers Loan | ||||
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Minnesota SBA Lenders
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Ely, Minnesota Bank Lends Money to Store Retailers Company in Woodbury, MinnesotaGet small business loans from an Ely, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Boundary Waters Bank is a Ely, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender BOUNDARY WATERS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 10/27/2003 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Boundary Waters Bank 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: Obtaining Funding From a Venture Capitalist SBA Approved Banks in Ely, Minnesota
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