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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 > Metal Household Furniture Manufacturing Loan | ||||
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Bemidji, Minnesota Bank for SBA Loans
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Bemidji, Minnesota Lender Lends Money to Metal Household Furniture Manufacturing CompanyThinking about meeting with a Bemidji, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Bemidji bank, that was approved by the SBA. Applying for an SBA loan with First National Bank Of Bemidji worked out well for our friends at one local firm in Bemidji, Minnesota. They received an SBA loan for $90,800. Nice! SBA Loan Borrower COMPANY TYPE: METAL HOUSEHOLD FURNITURE MANUFACTURING 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. NAICS Code 337124 - Metal Household Furniture Manufacturing Loan Approval Date 3/22/2005 Loan Approval Gross Amount $90,800 Loan Approval from the SBA Of the total $90,800 loan amount, the SBA guaranteed $77,180. 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 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees. 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. We've showcased information on this loan to let you know that businesses like yours 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: Small Business Banks in Bemidji, Minnesota
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