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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Edina, Business Loans > Fidelity Bank Edina Business Loans > Equipment Rental And Leasing Loan | ||||
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Minnesota SBA Loans from Fidelity Bank
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Business Loan from Fidelity Bank Given to Equipment Rental And Leasing CompanyFidelity Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burnsville, Minnesota was able to borrow $700,000 from Fidelity Bank. The SBA made the loan possible by guaranteeing $525,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: EQUIPMENT RENTAL AND LEASING SBA Loan Lender FIDELITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7359 - Equipment Rental and Leasing NAICS Code 532210 - Consumer Electronics and Appliances Rental Loan Approval Date 5/8/2001 Loan Approval Gross Amount $700,000 Loan Approval from the SBA Of the total $700,000 loan amount, the SBA guaranteed $525,000. 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 31 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 $700,000 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: Find an SBA Lender in Edina, Minnesota
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