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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Cambridge, Business Loans > Peoples Bank Of Commerce Cambridge Business Loans > Commercial Bakeries Loan | ||||
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How to Get SBA Money in Minneapolis, Minnesota
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Minneapolis, Minnesota Entrepreneur Gets a Small Business LoanMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in Minneapolis, Minnesota was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank Of Commerce. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL BAKERIES SBA Loan Lender PEOPLES BANK OF COMMERCE 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 311812 - Commercial Bakeries Loan Approval Date 7/28/2005 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $20,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Cambridge, Minnesota Loans
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