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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Deerwood, Business Loans > 1st National Bank - Deerwood Deerwood Business Loans > Financial Investment Activities Loan | ||||
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I Need Commercial Loans in Baxter, Minnesota
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Financial Investment Activities Commercial LoansWith these commercial loans for financial investment activities, the SBA guarantees the lender that the loan will be repaid. This financial investment activities loan for $100,000 was given to a Minnesota entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baxter, Minnesota was able to borrow $100,000 from 1st National Bank - Deerwood. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FINANCIAL INVESTMENT ACTIVITIES SBA Loan Lender 1ST NATIONAL BANK - DEERWOOD 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 523999 - Financial Investment Activities Loan Approval Date 4/27/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your 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. We've showcased information on this loan to let you know that businesses like yours 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: Determining Proper Capital Structure for a Business Best Banks in Deerwood, Minnesota
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