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May 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Rapids, Business Loans > American Bank Of The North Grand Rapids Business Loans > Hotels And Motels Loan | ||||
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Grand Rapids, Minnesota Bank for SBA Loans
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Grand Rapids, Minnesota Bank Lends Money to Hotels And Motels Company in Deer River, MinnesotaFind Grand Rapids, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. American Bank Of The North is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Deer River, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from American Bank Of The North. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender AMERICAN BANK OF THE NORTH The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/30/2004 Loan Approval Gross Amount $460,000 Loan Approval from the SBA Of the total $460,000 loan amount, the SBA guaranteed $345,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you want money for new small business in Deer River MN, you ought to talk with a local Deer River SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Deer River businesses. 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 $460,000 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: Who Lends Money to Small Businesses in Grand Rapids, Minnesota
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