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November 27, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Blaine, Business Loans > Boundary Waters Bank Blaine Business Loans > Amusement And Recreation Services Loan | ||||
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I Need an SBA Loan in Ely, Minnesota
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Amusement and Recreation Industries Commercial LoansLooking for commercial loans for amusement and recreation industries? The SBA may be the answer. This $16,500 amusement and recreation industries loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Ely, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Boundary Waters Bank, based in Blaine, Minnesota. SBA Loan Borrower COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES SBA Loan Lender BOUNDARY WATERS BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7999 - Amusement and Recreation Services NAICS Code 713990 - Amusement and Recreation Industries Loan Approval Date 11/26/2002 Loan Approval Gross Amount $16,500 Loan Approval from the SBA Of the total $16,500 loan amount, the SBA guaranteed $14,025. More Information on This SBA Loan The borrower borrowed this money for an existing 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Lenders in Blaine, Minnesota Find an SBA Lender in Minnesota
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