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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Blaine, Business Loans > Boundary Waters Bank Blaine Business Loans > Hotels And Motels Loan | ||||
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How to Get an SBA Loan from Boundary Waters Bank
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SBA Loan from Boundary Waters Bank Helps Hotels And Motels CompanyBoundary Waters Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in Ely, Minnesota was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Boundary Waters Bank, operating out of Blaine, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BOUNDARY WATERS BANK This SBA 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 721110 - Hotels and Motels Loan Approval Date 2/25/2002 Loan Approval Gross Amount $1,075,000 Loan Approval from the SBA Of the total $1,075,000 loan amount, the SBA guaranteed $806,250. 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 3 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. 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. Related Links: Small Business Banks in Blaine, Minnesota SBA Participating Banks in Minnesota
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