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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > South Saint Paul, Business Loans > Bremer Bank South Saint Paul Business Loans > Home Furnishings Stores Loan | ||||
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Minnesota Small Business Funding
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Home Furnishings Stores SBA LoansLooking for SBA loans for home furnishings stores? Try the SBA. This $119,700 home furnishings stores loan was issued by a Minnesota bank. This business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Bremer Bank, based in South Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: HOME FURNISHINGS STORES SBA Loan Lender BREMER BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 7/17/2006 Loan Approval Gross Amount $119,700 Loan Approval from the SBA Of the total $119,700 loan amount, the SBA guaranteed $101,745. 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 19 employees. The SBA loan documents indicated that the loan would help retain 19 existing jobs. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Approved Banks in South Saint Paul, Minnesota Getting an SBA Loan in Minnesota
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