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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Faribault, Business Loans > 1st United Bank Faribault Business Loans > Advertising Loan | ||||
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Minnesota Bank SBA Loans
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1st United Bank SBA Loan to Advertising CompanyLooking to get a Minnesota business loan? Here's one Minnesota business loan that was approved by the SBA. This small business needed an SBA business loan in Chanhassen, Minnesota back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from 1st United Bank, operating out of Faribault, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ADVERTISING SBA Loan Lender 1ST UNITED BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7319 - Advertising Loan Approval Date 9/20/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add 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. This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Faribault, Minnesota Banks for Small Business Browse All Business Loan Sources for Minnesota
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