Bank Of The West SBA Loan to No Industry Type Specified Company
Looking to get a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA.
This small business needed an SBA business loan in Porter, Minnesota back in 2001 and, after submitting their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Salt Lake City, Utah. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
PORTER, MN 56280
SBA Loan Lender
BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111
This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA policies and procedures.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
421390 -
Loan Approval Date
1/26/2001
Loan Approval Gross Amount
$95,000
Loan Approval from the SBA
Of the total $95,000 loan amount, the SBA guaranteed $80,750.
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 only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 $95,000 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:
Understanding Dilution
SBA 7A Banks in Salt Lake City, Utah
Getting an SBA Loan in Utah