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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Nicollet, Business Loans > Progrowth Bank Nicollet Business Loans > Chiropractors Loan | ||||
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Mankato, Minnesota Bank Loan
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Chiropractors Business LoansWith these business loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $67,000 was given to a Minnesota entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in Mankato, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Progrowth Bank, based in Nicollet, Minnesota. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender PROGROWTH BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621310 - Chiropractors Loan Approval Date 3/21/2005 Loan Approval Gross Amount $67,000 Loan Approval from the SBA Of the total $67,000 loan amount, the SBA guaranteed $56,950. 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 6 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Progrowth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Progrowth Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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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