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April 30, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Michael, Business Loans > Highland Bank Saint Michael Business Loans > Commercial And Institutional Building Construction Loan | ||||
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SBA 7A Banks for Minneapolis Business Owners
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Commercial and Institutional Building Construction Small Business LoansWith these small business loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $1,000,000 was given to a Minnesota entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $1,000,000 from Highland Bank. The SBA made the loan possible by guaranteeing $500,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION SBA Loan Lender HIGHLAND BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 236220 - Commercial and Institutional Building Construction Loan Approval Date 7/28/2004 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $500,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Highland Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Banks in Saint Michael, Minnesota Getting an SBA Loan in Minnesota
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