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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > General Contracting For Residential Buildings Loan | ||||
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How to Get SBA Money in Minneapolis, Minnesota
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Minnesota Small Business Loan Issued to General Contracting For Residential Buildings CompanyWould a Minnesota business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs. By giving the right information to Park Midway Bank, this Minneapolis, Minnesota business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS SBA Loan Lender PARK MIDWAY BANK This loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1522 - General Contracting for Residential Buildings Loan Approval Date 5/31/2000 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. 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 41 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Park Midway Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Approved Banks in Saint Paul, Minnesota
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