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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Park Rapids, Business Loans > Northwoods Bank Of Minnesota Park Rapids Business Loans > Hotels And Motels Loan | ||||
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Northwoods Bank Of Minnesota Small Business Loans
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Park Rapids, Minnesota Business Gets SBA-Guaranteed Funding from Northwoods Bank Of MinnesotaNorthwoods Bank Of Minnesota has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Park Rapids, Minnesota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Northwoods Bank Of Minnesota, based in Park Rapids, Minnesota. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender NORTHWOODS BANK OF MINNESOTA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 8/24/2000 Loan Approval Gross Amount $195,000 Loan Approval from the SBA Of the total $195,000 loan amount, the SBA guaranteed $146,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 8 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $195,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 an SBA Lender in Park Rapids, Minnesota
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