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May 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Brewster, Business Loans > 1st National Bank - Brewster Brewster Business Loans > Business Credit Institutions Loan | ||||
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Minnesota Bank SBA Loans
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Entrepreneur Works With Brewster, Minnesota Bank to Get an SBA LoanGet SBA loans from a Brewster, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. 1st National Bank - Brewster is a Brewster, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: BUSINESS CREDIT INSTITUTIONS SBA Loan Lender 1ST NATIONAL BANK - BREWSTER This lender issued this particular 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 6159 - Business Credit Institutions NAICS Code 522298 - Nondepository Credit Intermediation Loan Approval Date 1/10/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Participating Banks in Brewster, Minnesota
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