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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > First National Bank - Lakes Minneapolis Business Loans > Radio And Television Communications Equipment Loan | ||||
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SBA Lender Minnesota
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SBA Loan from First National Bank - Lakes Helps Radio And Television Communications Equipment CompanyFirst National Bank - Lakes is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Louis Park, Minnesota was able to borrow $70,000 from First National Bank - Lakes. The SBA made the loan possible by guaranteeing $56,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: RADIO AND TELEVISION COMMUNICATIONS EQUIPMENT SBA Loan Lender FIRST NATIONAL BANK - LAKES This lender issued this particular bank 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. SIC Code 3663 - Radio and Television Communications Equipment NAICS Code 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Loan Approval Date 8/14/2000 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $56,000. 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 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank - Lakes and they will explain how you can get an SBA loan for your company. 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: Raising VC Money for Social Networking Companies Small Bank Loans in Minneapolis, Minnesota Getting an SBA Loan in Minnesota
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