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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Waite Park, Business Loans > Plaza Park State Bank Waite Park Business Loans > Residential Care Loan | ||||
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How to Get SBA Loans in St. Cloud, Minnesota
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How to Get a Loan for Homes for the ElderlyLooking for business loans for homes for the elderly? The SBA may be the answer. This $35,000 homes for the elderly loan was issued by a Minnesota bank. Getting a small business loan in St. Cloud, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Plaza Park State Bank, operating out of Waite Park, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL CARE SBA Loan Lender PLAZA PARK STATE BANK This lender issued this particular SBA bank 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 8361 - Residential Care NAICS Code 623312 - Homes for the Elderly Loan Approval Date 6/24/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Plaza Park State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Find an SBA Lender in Waite Park, Minnesota
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