Lake Park, Minnesota Bank Lends Money to Lawn And Garden Services Company in Lake Park, Minnesota

Find Lake Park, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. State Bank Of Lake Park is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lake Park, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from State Bank Of Lake Park. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN SERVICES
LAKE PARK, MN 56554

SBA Loan Lender

STATE BANK OF LAKE PARK
2049 2ND ST
LAKE PARK, MN 56554

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

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

6/11/2001

Loan Approval Gross Amount

$147,864

Loan Approval from the SBA

Of the total $147,864 loan amount, the SBA guaranteed $125,684.

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 14 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

Banks in Lake Park, Minnesota

Minnesota SBA 7A Banks