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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Vermillion, Business Loans > Vermillion State Bank Vermillion Business Loans > Eating Places Loan | ||||
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SBA Lenders That Lend to Minnesota Entrepreneurs
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Firm Gets a Minnesota Small Business LoanMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. You can learn something about getting a small business loan in Hastings, Minnesota by studying this loan to a local company, made back in 2003. Banks like Vermillion State Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender VERMILLION STATE BANK This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/30/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 17 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Vermillion State Bank and they will explain how you can get an SBA loan for your company. 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: Best Banks in Vermillion, Minnesota
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