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December 20, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Duluth, Business Loans > Republic Bank, Inc. Duluth Business Loans > Personal Services Loan | ||||
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Minnesota SBA Lenders
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Duluth, Minnesota Bank Gives SBA Loan to Personal Services CompanyA Duluth, Minnesota business loan can be yours. Learn how a business got a $150,000 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Republic Bank, Inc. made the loan and the SBA guaranteed a portion of the loan. Many other Wisconsin entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender REPUBLIC BANK, INC. This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7299 - Personal Services NAICS Code 812990 - Personal Services Loan Approval Date 12/8/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: How Much Venture Capital Is There? Good Banks for Small Business in Duluth, Minnesota Browse All Business Loan Sources for Minnesota
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