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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Thief River Falls, Business Loans > Border State Bank Thief River Falls Business Loans > Security Systems Services Loan | ||||
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Small Business Banks in Minnesota
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Borrowing Money for Motion Picture TheatersLooking for loans for motion picture theaters? An SBA loan may be just what you've been looking for. This $135,000 motion picture theaters loan was issued by a Minnesota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Thief River Fall, Minnesota was able to borrow $135,000 from Border State Bank. The SBA made the loan possible by guaranteeing $114,750 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: SECURITY SYSTEMS SERVICES SBA Loan Lender BORDER STATE BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7382 - Security Systems Services NAICS Code 512131 - Motion Picture Theaters Loan Approval Date 10/29/2003 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 6 employees. The SBA loan application for the borrower did not indicate that the company promised 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 typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 - Friends and Family Find an SBA Lender in Thief River Falls, Minnesota
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