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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Virginia, Business Loans > Queen City Fed. Savings Bk Virginia Business Loans > Traveler Accommodation Loan | ||||
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SBA Lenders in Minnesota
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Traveler Accommodation Business LoansLooking for business loans for traveler accommodation? An SBA loan may be just what you've been looking for. This $2,000,000 traveler accommodation loan was issued by a Minnesota bank. This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Queen City Fed. Savings Bk, out of Virginia, Minnesota. The loan was granted and they received $2,000,000 to help grow their Deer River, Minnesota business. SBA Loan Borrower COMPANY TYPE: TRAVELER ACCOMMODATION SBA Loan Lender QUEEN CITY FED. SAVINGS BK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721199 - Traveler Accommodation Loan Approval Date 6/9/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 8 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Queen City Fed. Savings Bk and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: How Much Venture Capital Is There? SBA Participating Banks in Virginia, Minnesota
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