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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Real Estate Agents And Brokers Loan | ||||
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How to Get a Business Loan in Hopkins, Minnesota
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Local Business Gets a Minnesota SBA LoanBusiness loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota business loan, provided by an Ohio bank, that was approved by the SBA. You can learn something about getting a small business loan in Hopkins, Minnesota by studying this loan to a local business, made back in 2006. Banks like U.S. Bank National Association may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 531210 - Real Estate Agents and Brokers Loan Approval Date 11/29/2006 Loan Approval Gross Amount $10,100 Loan Approval from the SBA Of the total $10,100 loan amount, the SBA guaranteed $5,050. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My 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 way to raise money 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:
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