SBA Loan from Peoples Bank Of Commerce Helps Mortgage And Nonmortgage Loan Brokers Company
Peoples Bank Of Commerce is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.
This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Peoples Bank Of Commerce, out of Cambridge, Minnesota. The loan was granted and they received $71,500 to help grow their Coon Rapids (rr Name Coon Cree, Minnesota business.
SBA Loan Borrower
COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS
COON RAPIDS (RR NAME COON CREE, MN 55448
SBA Loan Lender
PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
522310 - Mortgage and Nonmortgage Loan Brokers
Loan Approval Date
8/29/2006
Loan Approval Gross Amount
$71,500
Loan Approval from the SBA
Of the total $71,500 loan amount, the SBA guaranteed $60,775.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Peoples Bank Of Commerce so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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SBA 7A Banks in Cambridge, Minnesota
Minnesota SBA 7A Lenders