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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wyoming, Business Loans > The Riverbank Wyoming Business Loans > Lawyers Loan | ||||
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Raising Money in Lindstrm, Minnesota With SBA Loans
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Commercial Loans for LawyersLooking for commercial loans for lawyers? The SBA may be the answer. This $200,000 lawyers loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lindstrm, Minnesota was able to borrow $200,000 from The Riverbank. The SBA made the loan possible by guaranteeing $150,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender THE RIVERBANK This commercial 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 541110 - Lawyers Loan Approval Date 2/12/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Riverbank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 Approved Banks in Wyoming, Minnesota
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