Environmental Consulting Services Small Business Loans

With these small business loans for environmental consulting services, the SBA guarantees the lender that the loan will be repaid. This environmental consulting services loan for $204,200 was given to a Minnesota entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in St. Paul, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Park Midway Bank, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: ENVIRONMENTAL CONSULTING SERVICES
ST. PAUL, MN 55114

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541620 - Environmental Consulting Services

Loan Approval Date

12/3/2002

Loan Approval Gross Amount

$204,200

Loan Approval from the SBA

Of the total $204,200 loan amount, the SBA guaranteed $153,150.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

How to Raise Money

SBA 7A Banks for Saint Paul, Minnesota Loans

SBA Lenders in Minnesota