Minnesota Bank Loan Issued to Physical Fitness Facilities Company

MinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a Minnesota bank provides the loan.

Getting a small business loan in Dutluth, Minnesota was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Beacon Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
DUTLUTH, MN 55811

SBA Loan Lender

BEACON BANK
401 W SUPERIOR ST
DULUTH, MN 55802

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

6/16/2004

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Dutluth MN, you ought to talk with a local Dutluth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dutluth businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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