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May 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Waite Park, Business Loans > Plaza Park State Bank Waite Park Business Loans > Personal Services Loan | ||||
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Raising Money in St. Cloud, Minnesota With SBA Loans
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Loans for Personal ServicesLooking for loans for personal services? The SBA may be the answer. This $108,000 personal services loan was issued by a Minnesota bank. This small firm knew how to go about getting a business bank loan. Based in St. Cloud, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Plaza Park State Bank, based in Waite Park, Minnesota. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender PLAZA PARK STATE BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 7/15/2004 Loan Approval Gross Amount $108,000 Loan Approval from the SBA Of the total $108,000 loan amount, the SBA guaranteed $91,800. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Approved Banks in Waite Park, Minnesota
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