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November 23, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Kimberly, Business Loans > Associated Bank Kimberly Business Loans > Chiropractors Loan | ||||
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Small Business Banks for Rochester Businesses
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Company Gets a Minnesota Business LoanMinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Wisconsin bank provides the loan. By giving the right information to Associated Bank, this Rochester, Minnesota business was able to get an SBA loan. To get this loan, the applying company 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: CHIROPRACTORS SBA Loan Lender ASSOCIATED 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 621310 - Chiropractors Loan Approval Date 8/4/2004 Loan Approval Gross Amount $137,000 Loan Approval from the SBA Of the total $137,000 loan amount, the SBA guaranteed $116,450. More Information on This SBA Loan The borrower borrowed this money for a new 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 SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, 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: SBA 7A Lenders in Kimberly, Wisconsin Getting an SBA Loan in Wisconsin
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