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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Northeast Bank Minneapolis Business Loans > Home Furnishings Stores Loan | ||||
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Minneapolis, Minnesota Bank Loan
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Loans for Home Furnishings StoresLooking for loans for home furnishings stores? Try the SBA. This $150,000 home furnishings stores loan was issued by a Minnesota bank. This company knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Northeast Bank, based in Minneapolis, Minnesota. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender NORTHEAST BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 6/29/2004 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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Minneapolis, Minnesota Loans
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