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November 24, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > The Business Bank Minnetonka Business Loans > Wood Office Furniture Manufacturing Loan | ||||
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How to Get SBA Money in Plymouth, Minnesota
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Minnesota Business Loan Issued to Wood Office Furniture Manufacturing CompanyMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to The Business Bank, this Plymouth, Minnesota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: WOOD OFFICE FURNITURE MANUFACTURING SBA Loan Lender THE BUSINESS BANK This lender processed this business 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 337211 - Wood Office Furniture Manufacturing Loan Approval Date 12/5/2006 Loan Approval Gross Amount $247,000 Loan Approval from the SBA Of the total $247,000 loan amount, the SBA guaranteed $123,500. 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 42 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 42 existing jobs. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Business Bank 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: Family and Friend Investors - Your First Financiers Who Lends Money to Small Businesses in Minnetonka, Minnesota Browse All Business Loan Sources for Minnesota
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