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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Buhl, Business Loans > 1st National Bank - Buhl Buhl Business Loans > Fine Arts Schools Loan | ||||
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1st National Bank - Buhl
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1st National Bank - Buhl SBA Loan to Fine Arts Schools Company1st National Bank - Buhl and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with 1st National Bank - Buhl, out of Buhl, Minnesota. The loan was granted and they received $45,000 to help grow their Hibbing, Minnesota business. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender 1ST NATIONAL BANK - BUHL This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 611610 - Fine Arts Schools Loan Approval Date 3/11/2005 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $22,500. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Buhl, Minnesota Getting a Business Loan in Minnesota
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