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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Elk River, Business Loans > Amer National Bank - Minnesota Elk River Business Loans > Dance Studios, Schools, And Halls Loan | ||||
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How Hard Is It to Get a Small Business Loan in Minneapolis, Minnesota?
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Financing for Fine Arts SchoolsLooking for commercial loans for fine arts schools? Talk to a banker who works with the SBA. This $140,000 fine arts schools loan was issued by a Minnesota bank. This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Amer National Bank - Minnesota, out of Elk River, Minnesota. The loan was granted and they received $140,000 to help grow their Minneapolis, Minnesota business. SBA Loan Borrower COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS SBA Loan Lender AMER NATIONAL BANK - MINNESOTA This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7911 - Dance Studios, Schools, and Halls NAICS Code 611610 - Fine Arts Schools Loan Approval Date 11/16/2001 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Amer National Bank - Minnesota 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: Obtaining Funding - Getting Venture Capital SBA Banks in Elk River, Minnesota Browse All Business Loan Sources for Minnesota
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