Borrowing Money for Home Health Care Services

With these loans for home health care services, the SBA guarantees the lender that the loan will be repaid. This home health care services loan for $63,000 was given to a Minnesota entrepreneur in 2002.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with 1st National Bank - Plainview, out of Plainview, Minnesota. The loan was granted and they received $63,000 to help grow their Rochester, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
ROCHESTER, MN 55901

SBA Loan Lender

1ST NATIONAL BANK - PLAINVIEW
138 W BROADWAY
PLAINVIEW, MN 55964

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8082 - Home Health Care Services

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

11/25/2002

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 50 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Rochester MN, you ought to talk with a local Rochester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rochester businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Plainview and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 Line of Credit

SBA Banks in Plainview, Minnesota

Where to Get an SBA Loan Minnesota