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May 12, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Maple Grove, Business Loans > Kleinbank Maple Grove Business Loans > Eating Places Loan | ||||
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SBA Lenders Minnesota
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Maple Grove, Minnesota Bank Lends Money to Eating Places Company in New Hope, MinnesotaGet to know Maple Grove, Minnesota banks that specialize in small business loans and know how to work with entrepreneurs. Kleinbank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in New Hope, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Kleinbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender KLEINBANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves 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. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/11/2003 Loan Approval Gross Amount $133,000 Loan Approval from the SBA Of the total $133,000 loan amount, the SBA guaranteed $113,050. 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 15 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We can help you find the best banks for small businesses in New Hope or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Business Banks in Maple Grove, Minnesota Browse All Business Loan Sources for Minnesota
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