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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > New Ulm, Business Loans > Citizens Bank Minnesota New Ulm Business Loans > Electronic Parts And Equipment Loan | ||||
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Minnesota Bank SBA Loans
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Entrepreneur Works With New Ulm, Minnesota Bank to Get an SBA LoanWant to talk with a New Ulm, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a New Ulm bank, that was approved by the SBA. Applying for an SBA loan with Citizens Bank Minnesota worked out well for our friends at one local company in New Ulm, Minnesota. The business was able to get an SBA loan for $150,000. Nice! SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT SBA Loan Lender CITIZENS BANK MINNESOTA This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5065 - Electronic Parts and Equipment NAICS Code 421690 - Electronic Parts and Equipment Wholesalers Loan Approval Date 12/30/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Citizens Bank Minnesota 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: Advice on Getting a Small Business Loan Find an SBA Lender in New Ulm, Minnesota
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