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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > First Commercial Bank Bloomington Business Loans > Advertising Agencies Loan | ||||
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Bloomington Lenders
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Entrepreneur Works With Bloomington, Minnesota Bank to Get an SBA LoanWant to talk with a Bloomington, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Bloomington bank, that was approved by the SBA. Applying for an SBA loan with First Commercial Bank worked out well for our friends at one local business in Maple Grove, Minnesota. They received an SBA loan for $350,000. Way to go! SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender FIRST COMMERCIAL BANK This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 541810 - Advertising Agencies Loan Approval Date 4/5/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $175,000. 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 20 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 20 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $350,000. How would you spend $350,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Where to Get an SBA Loan in Bloomington, Minnesota
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