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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Baxter, Business Loans > Amer National Bank - Minnesota Baxter Business Loans > Specialty Trade Contractors Loan | ||||
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Amer National Bank - Minnesota
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Amer National Bank - Minnesota SBA Loan to Specialty Trade Contractors CompanyAmer National Bank - Minnesota and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Saint Cloud, Minnesota was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Amer National Bank - Minnesota, operating out of Baxter, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY TRADE CONTRACTORS SBA Loan Lender AMER NATIONAL BANK - MINNESOTA This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238990 - Specialty Trade Contractors Loan Approval Date 3/24/2005 Loan Approval Gross Amount $28,000 Loan Approval from the SBA Of the total $28,000 loan amount, the SBA guaranteed $23,800. 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 4 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $28,000. How would you spend $28,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Where to Get an SBA Loan in Baxter, Minnesota SBA Participating Banks in Minnesota
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