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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 > State Bank Of Park Rapids Park Rapids Business Loans > Sporting And Athletic Goods Loan | ||||
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Minnesota SBA 7A Lenders
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Park Rapids, Minnesota Bank Gives SBA Loan to Sporting And Athletic Goods CompanyWant to talk with a Park Rapids, Minnesota bank about a business 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 State Bank Of Park Rapids worked out well for our friends at one local firm in Park Rapids, Minnesota. The business was able to get an SBA loan for $100,000. Nice! SBA Loan Borrower COMPANY TYPE: SPORTING AND ATHLETIC GOODS SBA Loan Lender STATE BANK OF PARK RAPIDS 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. SIC Code 3949 - Sporting and Athletic Goods NAICS Code 339920 - Sporting and Athletic Goods Manufacturing Loan Approval Date 12/31/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Park Rapids 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Park Rapids, Minnesota
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