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December 20, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Farmington, Business Loans > Anchor Bank Farmington Farmington Business Loans > Dentists Loan | ||||
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Farmington, Minnesota SBA Lenders
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Farmington, Minnesota Bank Lends Money to Dentists Company in Prior Lake, MinnesotaFind Farmington, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. Anchor Bank Farmington is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Prior Lake, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Anchor Bank Farmington. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender ANCHOR BANK FARMINGTON This was a Low Documentation SBA loan. The SBA started this program to limit 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. NAICS Code 621210 - Dentists Loan Approval Date 3/30/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 only one employee. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Prior Lake 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: Best Banks in Farmington, Minnesota
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