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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ely, Business Loans > Boundary Waters Bank Ely Business Loans > Florists Loan | ||||
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Minnesota Bank SBA Loans
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SBA Loan from Boundary Waters Bank Helps Florists CompanyBoundary Waters Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Boundary Waters Bank, out of Ely, Minnesota. The loan was granted and they received $43,800 to help grow their Ely, Minnesota business. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender BOUNDARY WATERS BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 4/17/2001 Loan Approval Gross Amount $43,800 Loan Approval from the SBA Of the total $43,800 loan amount, the SBA guaranteed $37,230. 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 small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Business Banks in Ely, Minnesota Browse All Business Loan Sources for Minnesota
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