Minnesota Bank Loan Issued to Health Practitioner Office Or Clinic Company

Small business loans in Minnesota are hard to find these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

You can learn something about getting a small business loan in Park Rapids, Minnesota by studying this loan to a local company, made back in 2001. Banks like Northwoods Bank Of Minnesota may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH PRACTITIONER OFFICE OR CLINIC
PARK RAPIDS, MN 56470

SBA Loan Lender

NORTHWOODS BANK OF MINNESOTA
1200 E FIRST ST
PARK RAPIDS, MN 56470

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

8049 - Health Practitioner Office or Clinic

NAICS Code

621399 - Health Practitioners

Loan Approval Date

5/4/2001

Loan Approval Gross Amount

$117,500

Loan Approval from the SBA

Of the total $117,500 loan amount, the SBA guaranteed $99,875.

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 business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northwoods Bank Of Minnesota had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northwoods Bank Of Minnesota made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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