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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Roseville, Business Loans > North American Banking Company Roseville Business Loans > Flowers, Nursery Stock, And Florists Supplies Loan | ||||
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Small Business Loans from North American Banking Company
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North American Banking Company SBA Loan to Flowers, Nursery Stock, And Florists Supplies CompanyNorth American Banking Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with North American Banking Company, out of Roseville, Minnesota. The loan was granted and they received $150,000 to help grow their Hopkins, Minnesota business. SBA Loan Borrower COMPANY TYPE: FLOWERS, NURSERY STOCK, AND FLORISTS SUPPLIES SBA Loan Lender NORTH AMERICAN BANKING COMPANY This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5193 - Flowers, Nursery Stock, and Florists Supplies NAICS Code 422930 - Flower, Nursery Stock, and Florists' Supplies Wholesalers Loan Approval Date 5/17/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like North American Banking Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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:
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