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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Green Bay, Business Loans > Associated Bank Green Bay Business Loans > Sports Teams And Clubs Loan | ||||
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Best Banks That Lend to Minnesota Small Business Owners
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Associated Bank Gives SBA Loan to Sports Teams And Clubs CompanyLooking to get a Minnesota business loan? This Minnesota entrepreneur got a business loan, provided by a Wisconsin bank that works with the SBA to help small business owners. Getting a small business loan in Woodbury, Minnesota was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Associated Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SPORTS TEAMS AND CLUBS SBA Loan Lender ASSOCIATED BANK This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 711211 - Sports Teams and Clubs Loan Approval Date 2/26/2007 Loan Approval Gross Amount $50,900 Loan Approval from the SBA Of the total $50,900 loan amount, the SBA guaranteed $25,450. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Obtaining Funding - How to Borrow Money Getting a Business Loan in Wisconsin
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