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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Outpatient Mental Health And Substance Abuse Centers Loan | ||||
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SBA 7A Banks for Anoka, Minnesota Business Owners
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Company Gets a Minnesota SBA LoanMinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in Anoka, Minnesota was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Park Midway Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: OUTPATIENT MENTAL HEALTH AND SUBSTANCE ABUSE CENTERS SBA Loan Lender PARK MIDWAY BANK This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621420 - Outpatient Mental Health and Substance Abuse Centers Loan Approval Date 7/20/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 7A Banks in Saint Paul, Minnesota
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