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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Green Bay, Business Loans > Associated Bank Green Bay Business Loans > Professional, Scientific, And Technical Services Loan | ||||
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How Do We Get a Business Loan in Crystal, Minnesota?
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Professional, Scientific, and Technical Services Small Business LoansLooking for small business loans for professional, scientific, and technical services? Try the SBA. This $35,000 professional, scientific, and technical services loan was issued by a Wisconsin bank. Getting a small business loan in Crystal, Minnesota was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Associated Bank, operating out of Green Bay, Wisconsin. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES SBA Loan Lender ASSOCIATED BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 541990 - Professional, Scientific, and Technical Services Loan Approval Date 11/20/2006 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Microlending as a Small Business Funding Source Best Banks in Green Bay, Wisconsin
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