SBA Loan from Peoples Bank Of Commerce Helps Private Mail Centers Company
Peoples Bank Of Commerce has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Peoples Bank Of Commerce, out of Cambridge, Minnesota. The loan was granted and they received $45,000 to help grow their Cottage Grove, Minnesota business.
SBA Loan Borrower
COMPANY TYPE: PRIVATE MAIL CENTERS
COTTAGE GROVE, MN 55016
SBA Loan Lender
PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008
This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
561431 - Private Mail Centers
Loan Approval Date
12/28/2005
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $38,250.
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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
SBIR Funding
SBA Participating Banks in Cambridge, Minnesota
Where to Get an SBA Loan Minnesota