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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Duluth, Business Loans > Park State Bank Duluth Business Loans > Eating Places Loan | ||||
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Minnesota SBA 7A Lenders
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Duluth, Minnesota Bank Lends Money to Eating Places Company in Hermantown, MinnesotaA Duluth, Minnesota SBA loan can be yours. Learn how a company got a $40,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Park State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PARK STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 6/23/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. This SBA loan was for $40,000. How would you spend $40,000 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 Lenders in Duluth, Minnesota
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