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April 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > First National Bank - Lakes Minneapolis Business Loans > Investment Banking And Securities Dealing Loan | ||||
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Minnesota Small Business Funding
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Raising Money for Investment Banking and Securities DealingWith these business loans for investment banking and securities dealing, the SBA guarantees the lender that the loan will be repaid. This investment banking and securities dealing loan for $75,000 was given to a Minnesota entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $75,000 from First National Bank - Lakes. The SBA made the loan possible by guaranteeing $63,750 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: INVESTMENT BANKING AND SECURITIES DEALING SBA Loan Lender FIRST NATIONAL BANK - LAKES This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 523110 - Investment Banking and Securities Dealing Loan Approval Date 6/5/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 only one employee. The SBA loan documents 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 The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank - Lakes and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Minneapolis, Minnesota Banks for Small Business
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