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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Marion, Business Loans > Midcountry Bank Marion Business Loans > Offices And Clinics Of Chiropractors Loan | ||||
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Raising Money in Plymouth, Minnesota With SBA Loans
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Financing for ChiropractorsWith these commercial loans for chiropractors, the SBA guarantees the lender that the loan will be repaid. This chiropractors loan for $114,200 was given to a Minnesota entrepreneur in 2002. This small business knew how to go about getting a business bank loan. Based in Plymouth, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Midcountry Bank, based in Marion, Illinois. SBA Loan Borrower COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS SBA Loan Lender MIDCOUNTRY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8041 - Offices and Clinics of Chiropractors NAICS Code 621310 - Chiropractors Loan Approval Date 6/25/2002 Loan Approval Gross Amount $114,200 Loan Approval from the SBA Of the total $114,200 loan amount, the SBA guaranteed $97,070. 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. We can help you find the best banks for small businesses in Plymouth 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: Borrowing Money from Friends and Family
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