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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Advertising Agencies Loan | ||||
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Minnesota Bank SBA Loans
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Business Loan from Venture Bank Given to Advertising Agencies CompanyVenture Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $100,000 from Venture Bank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender VENTURE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 4/7/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 3 new 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 company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: SBA 7A Banks for Bloomington, Minnesota Loans Getting an SBA Loan in Minnesota
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