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May 10, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Alexandria, Business Loans > Bremer Bank Alexandria Business Loans > Used Household And Office Goods Moving Loan | ||||
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Bremer Bank Business Loans
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Fergus Falls, Minnesota Business Gets SBA-Guaranteed Funding from Bremer BankBremer Bank 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 knew how to go about getting a business bank loan. Based in Fergus Falls, Minnesota, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Bremer Bank, based in Alexandria, Minnesota. SBA Loan Borrower COMPANY TYPE: USED HOUSEHOLD AND OFFICE GOODS MOVING SBA Loan Lender BREMER BANK This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 484210 - Used Household and Office Goods Moving Loan Approval Date 6/24/2004 Loan Approval Gross Amount $30,500 Loan Approval from the SBA Of the total $30,500 loan amount, the SBA guaranteed $15,250. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Alexandria, Minnesota
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