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December 18, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Prior Lake, Business Loans > Prior Lake State Bank Prior Lake Business Loans > Pet Care Services Loan | ||||
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Raising Money in Prior Lake, Minnesota With SBA Loans
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Minnesota Small Business Loan Issued to Pet Care Services CompanyMinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan. Getting a small business loan in Prior Lake, Minnesota was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Prior Lake State Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: PET CARE SERVICES SBA Loan Lender PRIOR LAKE STATE BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812910 - Pet Care Services Loan Approval Date 3/18/2005 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 for Small Business in Prior Lake, Minnesota Browse All Business Loan Sources for Minnesota
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