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November 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Insurance Agencies And Brokerages Loan | ||||
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St. Louis Park, Minnesota Bank Loan
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Insurance Agencies and Brokerages Business LoansWith these business loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $100,000 was given to a Minnesota entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Louis Park, Minnesota was able to borrow $100,000 from Associated Bank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender ASSOCIATED BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 6/25/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Associated Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 - How to Decide How Much to Raise SBA 7A Banks for Minneapolis, Minnesota Loans
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