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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cannon Falls, Business Loans > 1st National Bank In Cannon Falls Cannon Falls Business Loans > Elementary And Secondary Schools Loan | ||||
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Hastings, Minnesota Bank Loan
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How to Get a Loan for Elementary and Secondary SchoolsWith these SBA loans for elementary and secondary schools, the SBA guarantees the lender that the loan will be repaid. This elementary and secondary schools loan for $360,000 was given to a Minnesota entrepreneur in 2002. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hastings, Minnesota was able to borrow $360,000 from 1st National Bank In Cannon Falls. The SBA made the loan possible by guaranteeing $270,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS SBA Loan Lender 1ST NATIONAL BANK IN CANNON FALLS This debt financing 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 611110 - Elementary and Secondary Schools Loan Approval Date 12/27/2002 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. 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 18 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. This SBA loan was for $360,000. How would you spend $360,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks for Cannon Falls, Minnesota Loans Browse All Business Loan Sources for Minnesota
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