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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Blaine, Business Loans > Village Bank Blaine Business Loans > Repair Shops And Related Services Loan | ||||
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Business Loan from Village Bank
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Village Bank SBA Loan to Repair Shops And Related Services CompanyAn SBA loan from Village Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Roseville, Minnesota business owner got a $75,000 loan. This business knew how to go about getting a business bank loan. Based in Roseville, Minnesota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Village Bank, based in Blaine, Minnesota. SBA Loan Borrower COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES SBA Loan Lender VILLAGE BANK This lender issued this particular small business 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 7699 - Repair Shops and Related Services Loan Approval Date 1/19/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. 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 15 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Small Business Banks in Blaine, Minnesota
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