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May 17, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Pine City, Business Loans > Northwoods Bank Of Minnesota Pine City Business Loans > Custom Computer Programming Services Loan | ||||
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Pine City SBA Loans from Northwoods Bank Of Minnesota
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Pine City, Minnesota Business Gets SBA-Guaranteed Funding from Northwoods Bank Of MinnesotaNorthwoods Bank Of Minnesota has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Northwoods Bank Of Minnesota, out of Pine City, Minnesota. The loan was granted and they received $100,000 to help grow their Pine City, Minnesota business. SBA Loan Borrower COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES SBA Loan Lender NORTHWOODS BANK OF MINNESOTA This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541511 - Custom Computer Programming Services Loan Approval Date 12/4/2001 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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, anyone can do it... so why not you? 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: Good Banks for Small Business in Pine City, Minnesota
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