Business Loans for Personal Services
Looking for business loans for personal services? An SBA loan may be just what you've been looking for. This $311,000 personal services loan was issued by a Minnesota bank.
This small business knew how to go about getting a business bank loan. Based in Burnsville, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Associated Bank, based in Minneapolis, Minnesota.
SBA Loan Borrower
COMPANY TYPE: PERSONAL SERVICES
BURNSVILLE, MN 55337
SBA Loan Lender
ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402
This lender provides SBA 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
812990 - Personal Services
Loan Approval Date
4/23/2001
Loan Approval Gross Amount
$311,000
Loan Approval from the SBA
Of the total $311,000 loan amount, the SBA guaranteed $233,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Associated Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
Borrowing Money from Friends and Family
Small Bank Loans in Minneapolis, Minnesota
Getting an SBA Loan in Minnesota