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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Little Falls, Business Loans > Home Savings Of America Little Falls Business Loans > Photography Studios, Portrait Loan | ||||
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Little Falls, Minnesota SBA 7A Banks
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Entrepreneur Works With Little Falls, Minnesota Bank to Get an SBA LoanA Little Falls, Minnesota small business loan can be yours. Learn how a company got a $23,000 business loan from this Minnesota bank. This loan to an entrepreneur is a good example of an SBA loan. Home Savings Of America made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT SBA Loan Lender HOME SAVINGS OF AMERICA This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541921 - Photography Studios, Portrait Loan Approval Date 2/20/2004 Loan Approval Gross Amount $23,000 Loan Approval from the SBA Of the total $23,000 loan amount, the SBA guaranteed $19,550. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Home Savings Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Obtaining Funding From a Venture Capitalist SBA 7A Lenders in Little Falls, Minnesota
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