Albert Lea, Minnesota Entrepreneur Gets a Small Business Loan
MinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a California bank provides the loan.
You can learn something about getting a small business loan in Albert Lea, Minnesota by studying this loan to a local business, made back in 2001. Banks like Bank Of The West may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: TITLE ABSTRACT AND SETTLEMENT OFFICES
ALBERT LEA, MN 56007
SBA Loan Lender
BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541191 - Title Abstract and Settlement Offices
Loan Approval Date
1/26/2001
Loan Approval Gross Amount
$400,000
Loan Approval from the SBA
Of the total $400,000 loan amount, the SBA guaranteed $300,000.
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 10 employees. The loan application did not indicate that the small business promised to use the money to hire new 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 Bank Of The West 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:
Equity Financing
Banks in San Francisco, California
SBA Lenders in California