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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wyoming, Business Loans > The Riverbank Wyoming Business Loans > Household Appliance Stores Loan | ||||
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The Riverbank
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Spring Lake Park, Minnesota Business Gets SBA-Guaranteed Funding from The RiverbankThe Riverbank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Spring Lake Park, Minnesota was able to borrow $270,000 from The Riverbank. The SBA made the loan possible by guaranteeing $202,500 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD APPLIANCE STORES SBA Loan Lender THE RIVERBANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 443111 - Household Appliance Stores Loan Approval Date 7/1/2002 Loan Approval Gross Amount $270,000 Loan Approval from the SBA Of the total $270,000 loan amount, the SBA guaranteed $202,500. 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 12 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 From a Venture Capitalist Good Banks for Small Business in Wyoming, Minnesota Where to Get an SBA Loan Minnesota
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