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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Michael, Business Loans > Highland Bank Saint Michael Business Loans > Advertising Agencies Loan | ||||
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Small Business Loans from Highland Bank
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Highland Bank SBA Loan to Advertising Agencies CompanyAn SBA loan from Highland Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eden Prairie, Minnesota business owner got a $66,000 loan. Getting a small business loan in Eden Prairie, Minnesota was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Highland Bank, operating out of Saint Michael, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender HIGHLAND BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541810 - Advertising Agencies Loan Approval Date 6/15/2006 Loan Approval Gross Amount $66,000 Loan Approval from the SBA Of the total $66,000 loan amount, the SBA guaranteed $56,100. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help generate 16 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks for Saint Michael, Minnesota Loans
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