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November 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > First National Bank - Lakes Minneapolis Business Loans > Retail Bakeries Loan | ||||
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Minneapolis, Minnesota SBA Banks
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Minneapolis, Minnesota Bank Gives SBA Loan to Retail Bakeries CompanyWant to talk with a Minneapolis, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with First National Bank - Lakes worked out well for our friends at one local company in Minneapolis, Minnesota. They got an SBA loan for $55,000. Way to go! SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender FIRST NATIONAL BANK - LAKES This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5461 - Retail Bakeries NAICS Code 445291 - Baked Goods Stores Loan Approval Date 2/12/2001 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Minneapolis, Minnesota
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