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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Peter, Business Loans > First National Bank Minnesota Saint Peter Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Best Banks for Small Businesses in Minnesota
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Growing Company Gets a Minnesota Business LoanMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. This small business, based in Gaylord, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank Minnesota. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender FIRST NATIONAL BANK MINNESOTA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 5/17/2006 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $27,500. 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 only one employee. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank Minnesota had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank Minnesota made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Friends and Family Best Banks for Small Business in Saint Peter, Minnesota SBA Participating Banks in Minnesota
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