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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > International Falls, Business Loans > Border State Bank International Falls Business Loans > Eating Places Loan | ||||
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Minnesota Bank SBA Loans
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Border State Bank SBA Loan to Eating Places CompanyWant a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in International Falls, Minnesota was able to borrow $95,000 from Border State Bank. The SBA made the loan possible by guaranteeing $76,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BORDER STATE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 9/29/2000 Loan Approval Gross Amount $95,000 Loan Approval from the SBA Of the total $95,000 loan amount, the SBA guaranteed $76,000. 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 2 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 International Falls, Minnesota Where to Get an SBA Loan Minnesota
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