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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Alexandria, Business Loans > Bremer Bank Alexandria Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Alexandria, Minnesota Lender Lends Money to Gift, Novelty, And Souvenir Stores CompanyThinking about meeting with an Alexandria, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by an Alexandria bank, that was approved by the SBA. Applying for an SBA loan with Bremer Bank worked out well for our friends at one local business in Clarissa, Minnesota. They got an SBA loan for $48,000. Nice! SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender BREMER BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 6/24/2003 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bremer Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Alexandria, Minnesota
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