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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Vermillion, Business Loans > Vermillion State Bank Vermillion Business Loans > Business Consulting Services Loan | ||||
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Vermillion Lenders
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Vermillion, Minnesota Bank Lends Money to Business Consulting Services Company in Crystal, MinnesotaThinking about meeting with a Vermillion, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Vermillion bank, that was approved by the SBA. Applying for an SBA loan with Vermillion State Bank worked out well for our friends at one local business in Crystal, Minnesota. They got an SBA loan for $50,000. Awesome! SBA Loan Borrower COMPANY TYPE: BUSINESS CONSULTING SERVICES SBA Loan Lender VERMILLION STATE BANK This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8748 - Business Consulting Services NAICS Code 541618 - Management Consulting Services Loan Approval Date 6/21/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 $50,000 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: Where to Get an SBA Loan in Vermillion, Minnesota
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