Northview Bank SBA Loan to Individual And Family Social Services Company

Northview Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northome, Minnesota was able to borrow $80,000 from Northview Bank. The SBA made the loan possible by guaranteeing $68,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SOCIAL SERVICES
NORTHOME, MN 56661

SBA Loan Lender

NORTHVIEW BANK
2203 FINLAND AVE
FINLAYSON, MN 55735

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8322 - Individual and Family Social Services

NAICS Code

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

9/26/2001

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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