Commercial Loans for Landscaping Services

With these commercial loans for landscaping services, the SBA guarantees the lender that the loan will be repaid. This landscaping services loan for $230,500 was given to a Minnesota entrepreneur in 2003.

Getting a small business loan in Ramsey, Minnesota was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Minnesota Bank, operating out of Minnetonka, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
RAMSEY, MN 55303

SBA Loan Lender

FIRST MINNESOTA BANK
4625 COUNTY RD 101
MINNETONKA, MN 55345

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

3/10/2003

Loan Approval Gross Amount

$230,500

Loan Approval from the SBA

Of the total $230,500 loan amount, the SBA guaranteed $172,875.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Minnesota Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Business Credit Evaluation

SBA Banks in Minnetonka, Minnesota

SBA Lenders in Minnesota