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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > The Business Bank Minnetonka Business Loans > Commercial And Industrial Machinery And Equipment Rental And Leasing Loan | ||||
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The Business Bank Small Business
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Minnetonka, Minnesota Business Gets SBA-Guaranteed Funding from The Business BankAn SBA loan from The Business Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minnetonka, Minnesota business owner got a $125,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minnetonka, Minnesota was able to borrow $125,000 from The Business Bank. The SBA made the loan possible by guaranteeing $62,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASING SBA Loan Lender THE BUSINESS 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 532490 - Commercial and Industrial Machinery and Equipment Rental and Leasing Loan Approval Date 7/31/2007 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Business Bank and they will explain how you can get an SBA loan for your company. 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: Who Lends Money to Small Businesses in Minnetonka, Minnesota Getting an SBA Loan in Minnesota
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