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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Grand Rapids, Business Loans > American Bank Of The North Grand Rapids Business Loans > Clothing Stores Loan | ||||
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Grand Rapids SBA Loans
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American Bank Of The North Gives Small Business Loan to Clothing Stores CompanyMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to American Bank Of The North, this Grand Rapids, Minnesota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender AMERICAN BANK OF THE NORTH SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 1/16/2003 Loan Approval Gross Amount $284,500 Loan Approval from the SBA Of the total $284,500 loan amount, the SBA guaranteed $213,375. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $284,500 loan. Remember, if it to be, it is up to me! 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 - Getting Venture Capital Who Lends Money to Small Businesses in Grand Rapids, Minnesota Getting an SBA Loan in Minnesota
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