Financing for Photography Studios, Portrait

With these commercial loans for photography studios, portrait, the SBA guarantees the lender that the loan will be repaid. This photography studios, portrait loan for $90,900 was given to a Minnesota entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Park Rapids, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Northwoods Bank Of Minnesota, based in Park Rapids, Minnesota.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
PARK RAPIDS, MN 56470

SBA Loan Lender

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

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

12/16/2005

Loan Approval Gross Amount

$90,900

Loan Approval from the SBA

Of the total $90,900 loan amount, the SBA guaranteed $45,450.

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 only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Northwoods Bank Of Minnesota that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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SBA 7A Banks for Park Rapids, Minnesota Loans

Minnesota SBA Banks