Raising Money for Nursing Care Facilities

Looking for bank loans for nursing care facilities? Try the SBA. This $552,000 nursing care facilities loan was issued by a New York bank.

Getting a small business loan in Eden Prairie, Minnesota was important for this company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America, operating out of New York City, New York. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSING CARE FACILITIES
EDEN PRAIRIE, MN 55344

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

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

623110 - Nursing Care Facilities

Loan Approval Date

1/10/2008

Loan Approval Gross Amount

$552,000

Loan Approval from the SBA

Of the total $552,000 loan amount, the SBA guaranteed $414,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Dealing With Venture Capitalists

Best Banks for Small Business in New York City, New York

SBA New York Lenders