Business Loans for Home Health Care Services

Looking for business loans for home health care services? Talk to a banker who works with the SBA. This $150,000 home health care services loan was issued by a Minnesota bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community Bank Vernon Center, out of Mankato, Minnesota. The loan was granted and they received $150,000 to help grow their Mankato, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
MANKATO, MN 56001

SBA Loan Lender

COMMUNITY BANK VERNON CENTER
951 MADISON AVE
MANKATO, MN 56001

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 32 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Vernon Center had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Vernon Center 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:

Business Incubators

Who Lends Money to Small Businesses in Mankato, Minnesota

Getting an SBA Loan in Minnesota