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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Walker, Business Loans > Amer National Bank - Minnesota Walker Business Loans > Hotels And Motels Loan | ||||
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Minnesota Bank SBA Loans
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Amer National Bank - Minnesota SBA Loan to Hotels And Motels CompanyLooking to get a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Amer National Bank - Minnesota, out of Walker, Minnesota. The loan was granted and they received $148,000 to help grow their Cass Lake, Minnesota business. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender AMER NATIONAL BANK - MINNESOTA This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 4/26/2000 Loan Approval Gross Amount $148,000 Loan Approval from the SBA Of the total $148,000 loan amount, the SBA guaranteed $111,000. 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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $148,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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