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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Long Lake, Business Loans > Lake Community Bank Long Lake Business Loans > Dance Studios, Schools, And Halls Loan | ||||
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Long Lake Lenders
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Entrepreneur Works With Long Lake, Minnesota Bank to Get an SBA LoanWant to talk with a Long Lake, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Long Lake bank, that was approved by the SBA. Applying for an SBA loan with Lake Community Bank worked out well for our friends at one local firm in Orono, Minnesota. The business was able to get an SBA loan for $100,000. Sweet! SBA Loan Borrower COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS SBA Loan Lender LAKE COMMUNITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7911 - Dance Studios, Schools, and Halls NAICS Code 611610 - Fine Arts Schools Loan Approval Date 6/27/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Orono or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA 7A Lenders in Long Lake, Minnesota Getting an SBA Loan in Minnesota
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