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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Ogema, Business Loans > Community Devel Bank Fsb Ogema Business Loans > Furniture Stores Loan | ||||
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What Does It Take to Get a Business Loan in Verndale, Minnesota?
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Furniture Stores Commercial LoansWith these commercial loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $190,000 was given to a Minnesota entrepreneur in 2005. This business knew how to go about getting a business bank loan. Based in Verndale, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Community Devel Bank Fsb, based in Ogema, Minnesota. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender COMMUNITY DEVEL BANK FSB This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 442110 - Furniture Stores Loan Approval Date 3/17/2005 Loan Approval Gross Amount $190,000 Loan Approval from the SBA Of the total $190,000 loan amount, the SBA guaranteed $95,000. 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 4 employees. The SBA loan application for the borrower indicated that the funding would help generate 4 new jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Community Devel Bank Fsb 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: Realistic Debt Financing Options SBA Participating Banks in Ogema, Minnesota
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