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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Nashwauk, Business Loans > American Bank Of The North Nashwauk Business Loans > Full-Service Restaurants Loan | ||||
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Banks Doing SBA Loans in Minnesota
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Nashwauk, Minnesota Lender Lends Money to Full-Service Restaurants CompanyGet small business loans from a Nashwauk, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. American Bank Of The North is a Nashwauk, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMERICAN BANK OF THE NORTH This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/7/2004 Loan Approval Gross Amount $22,000 Loan Approval from the SBA Of the total $22,000 loan amount, the SBA guaranteed $11,000. 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 24 employees. The SBA loan documents indicated that the loan would help retain 24 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are working on finding money to start a business in Grand Rapids MN, you ought to talk with a local Grand Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Rapids businesses. While you may be able to find business people willing to loan money, 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: Role of Business Plan When Raising Money Small Business Banks in Nashwauk, Minnesota
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