Bnc National Bank SBA Loan to Sound Recording Studios Company

An SBA loan from Bnc National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Hope, Minnesota business owner got a $227,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Hope, Minnesota was able to borrow $227,000 from Bnc National Bank. The SBA made the loan possible by guaranteeing $170,250 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOUND RECORDING STUDIOS
NEW HOPE, MN 55428

SBA Loan Lender

BNC NATIONAL BANK
333 S SEVENTH ST, STE 200
MINNEAPOLIS, MN 55402

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512240 - Sound Recording Studios

Loan Approval Date

7/2/2004

Loan Approval Gross Amount

$227,000

Loan Approval from the SBA

Of the total $227,000 loan amount, the SBA guaranteed $170,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Find Start-Up Capital

SBA 7A Banks for Minneapolis, Minnesota Loans

Getting an SBA Loan in Minnesota