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May 9, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Drake Bank Saint Paul Business Loans > Drywall, Plastering, Acoustical, And Insulation Contractors Loan | ||||
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Maple Grove, Minnesota Bank for SBA Loans
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Commercial Loans for Drywall, Plastering, Acoustical, and Insulation ContractorsWith these commercial loans for drywall, plastering, acoustical, and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall, plastering, acoustical, and insulation contractors loan for $135,000 was given to a Minnesota entrepreneur in 2003. This business knew how to go about getting a business bank loan. Based in Maple Grove, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Drake Bank, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: DRYWALL, PLASTERING, ACOUSTICAL, AND INSULATION CONTRACTORS SBA Loan Lender DRAKE BANK This SBA 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 235420 - Drywall, Plastering, Acoustical, and Insulation Contractors Loan Approval Date 1/14/2003 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 31 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks in Saint Paul, Minnesota
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