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November 24, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Rochester, Business Loans > Home Federal Savings Bank Rochester Business Loans > Services Related To Advertising Loan | ||||
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SBA Lender Rochester
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Rochester, Minnesota Bank Gives SBA Loan to Services Related To Advertising CompanyGet to know Rochester, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Home Federal Savings Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Rochester, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Home Federal Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SERVICES RELATED TO ADVERTISING SBA Loan Lender HOME FEDERAL SAVINGS BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541890 - Services Related to Advertising Loan Approval Date 4/25/2005 Loan Approval Gross Amount $27,000 Loan Approval from the SBA Of the total $27,000 loan amount, the SBA guaranteed $22,950. 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 4 employees. This SBA loan request did not indicate that the business planned 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? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Home Federal Savings Bank 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: Obtaining Funding - Friends and Family Small Bank Loans in Rochester, Minnesota
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