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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Maple Grove, Business Loans > Inter Savings Bank, Fsb Maple Grove Business Loans > Eating Places Loan | ||||
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Maple Grove SBA Lenders
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Entrepreneur Works With Maple Grove, Minnesota Bank to Get an SBA LoanThinking about meeting with a Maple Grove, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Maple Grove bank, that was approved by the SBA. Applying for an SBA loan with Inter Savings Bank, Fsb worked out well for our friends at one local firm in Burnsville, Minnesota. They got an SBA loan for $100,000. Sweet! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender INTER SAVINGS BANK, FSB 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/29/2001 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 a new 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 company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 - Friends and Family Small Business Banks in Maple Grove, Minnesota
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