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May 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Park Rapids, Business Loans > Northwoods Bank Of Minnesota Park Rapids Business Loans > Furniture Stores Loan | ||||
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Park Rapids, Minnesota Bank for SBA Loans
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Park Rapids, Minnesota Bank Gives SBA Loan to Furniture Stores CompanyThinking about meeting with a Park Rapids, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Park Rapids bank, that was approved by the SBA. Applying for an SBA loan with Northwoods Bank Of Minnesota worked out well for our friends at one local company in Park Rapids, Minnesota. They got an SBA loan for $88,000. Way to go! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender NORTHWOODS BANK OF MINNESOTA This lender issued this particular loan for a small business 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. SIC Code 5712 - Furniture Stores NAICS Code 442110 - Furniture Stores Loan Approval Date 5/25/2001 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. 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 5 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $88,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Banks for Small Business in Park Rapids, Minnesota
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