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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > South Saint Paul, Business Loans > Bremer Bank South Saint Paul Business Loans > Personal And Household Goods Repair And Maintenance Loan | ||||
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How to Get SBA Loans in Hopkins, Minnesota
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SBA Loans for Personal and Household Goods Repair and MaintenanceLooking for SBA loans for personal and household goods repair and maintenance? The SBA may be the answer. This $84,200 personal and household goods repair and maintenance loan was issued by a Minnesota bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bremer Bank, out of South Saint Paul, Minnesota. The loan was granted and they received $84,200 to help grow their Hopkins, Minnesota business. SBA Loan Borrower COMPANY TYPE: PERSONAL AND HOUSEHOLD GOODS REPAIR AND MAINTENANCE SBA Loan Lender BREMER BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 4/11/2007 Loan Approval Gross Amount $84,200 Loan Approval from the SBA Of the total $84,200 loan amount, the SBA guaranteed $71,570. 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 5 employees. The SBA loan documents indicated that the funding would help generate 5 new jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bremer Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 in South Saint Paul, Minnesota
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