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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Maple Grove, Business Loans > Americana Community Bank Maple Grove Business Loans > No Industry Type Specified Loan | ||||
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Americana Community Bank
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Maple Grove, Minnesota Business Gets SBA-Guaranteed Funding from Americana Community BankAmericana Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maple Grove, Minnesota was able to borrow $150,000 from Americana Community Bank. The SBA made the loan possible by guaranteeing $127,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED SBA Loan Lender AMERICANA COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code Loan Approval Date 8/30/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 14 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 7A Banks for Maple Grove, Minnesota Loans
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