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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bemidji, Business Loans > First National Bank Of Bemidji Bemidji Business Loans > Book Stores Loan | ||||
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How to Get SBA Loans in Bemidji, Minnesota
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How to Get a Loan for Book StoresWith these SBA loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $100,000 was given to a Minnesota entrepreneur in 2002. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank Of Bemidji, out of Bemidji, Minnesota. The loan was granted and they received $100,000 to help grow their Bemidji, Minnesota business. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender FIRST NATIONAL BANK OF BEMIDJI This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 12/5/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 5 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Bemidji or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Realistic Debt Financing Options
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