Business Support Services Commercial Loans

Looking for commercial loans for business support services? Talk to a banker who works with the SBA. This $58,750 business support services loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Joseph, Minnesota was able to borrow $58,750 from First State Bank Of St. Joseph. The SBA made the loan possible by guaranteeing $49,937 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
SAINT JOSEPH, MN 56374

SBA Loan Lender

FIRST STATE BANK OF ST. JOSEPH
400 4TH AVE NE
SAINT JOSEPH, MN 56374

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.

SIC Code

7389 - Business Services

NAICS Code

561499 - Business Support Services

Loan Approval Date

9/19/2001

Loan Approval Gross Amount

$58,750

Loan Approval from the SBA

Of the total $58,750 loan amount, the SBA guaranteed $49,937.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 24 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees 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.

This SBA loan was for $58,750. How would you spend $58,750 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:

Obtaining Funding - Friends and Family

SBA 7A Banks for Saint Joseph, Minnesota Loans

Minnesota SBA Banks