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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Fargo, Business Loans > Ramsey National Bank & Trust - Devi Fargo Business Loans > Apparel And Accessory Stores Loan | ||||
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Best Banks That Lend to Minnesota Business Owners
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Minnesota Small Business Loan Issued to Apparel And Accessory Stores CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a North Dakota bank provides the loan. Getting a small business loan in East Grand Forks, Minnesota was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Ramsey National Bank & Trust - Devi. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: APPAREL AND ACCESSORY STORES SBA Loan Lender RAMSEY NATIONAL BANK & TRUST - DEVI The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5699 - Apparel and Accessory Stores NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 12/12/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ramsey National Bank & Trust - Devi had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ramsey National Bank & Trust - Devi made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - How to Borrow Money Best Banks for Small Business in Fargo, North Dakota
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