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May 16, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Pine City, Business Loans > Horizon Bank Pine City Business Loans > Lawn And Garden Services Loan | ||||
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Minnesota SBA 7A Lenders
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Pine City, Minnesota Bank Gives SBA Loan to Lawn And Garden Services CompanyWant to talk with a Pine City, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Pine City bank, that was approved by the SBA. Applying for an SBA loan with Horizon Bank worked out well for our friends at one local company in Pine City, Minnesota. They received an SBA loan for $42,500. Great job! SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender HORIZON BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 6/9/2003 Loan Approval Gross Amount $42,500 Loan Approval from the SBA Of the total $42,500 loan amount, the SBA guaranteed $36,125. 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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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