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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Fountain, Business Loans > First State Bank Fountain Business Loans > Hotels And Motels Loan | ||||
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Preston Business Loan from First State Bank
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SBA Loan from First State Bank Helps Hotels And Motels CompanyAn SBA loan from First State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Preston, Minnesota business owner got a $900,000 loan. This business knew how to go about getting a business bank loan. Based in Preston, Minnesota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was First State Bank, based in Fountain, Minnesota. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender FIRST STATE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank 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 Loan Approval Date 1/14/2000 Loan Approval Gross Amount $900,000 Loan Approval from the SBA Of the total $900,000 loan amount, the SBA guaranteed $675,000. 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 25 employees. This SBA loan request did not indicate that the company planned 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? Don't forget. To get an SBA loan, you must 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. We can help you find the best banks for small businesses in Preston 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: Accountant's Role in Securing Financing Small Bank Loans in Fountain, Minnesota
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