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May 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Fairmont, Business Loans > Bank Midwest Minnesota Iowa Na Fairmont Business Loans > Personal Services Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Personal Services LoansLooking for loans for personal services? Talk to a banker who works with the SBA. This $80,000 personal services loan was issued by a Minnesota bank. Getting a small business loan in Spirit Lake, Iowa was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Midwest Minnesota Iowa Na, operating out of Fairmont, Minnesota. Here are the details on this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender BANK MIDWEST MINNESOTA IOWA NA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812990 - Personal Services Loan Approval Date 1/19/2007 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the funding would help generate 1 new job. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source 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 $80,000 loan. Remember, you control your own destiny. 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: Where to Get an SBA Loan in Fairmont, Minnesota
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