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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Salt Lake City, Business Loans > Bank Of The West Salt Lake City Business Loans > Direct Selling Establishments Loan | ||||
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How to Get a Business Loan in Wheaton, Minnesota
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Wheaton, Minnesota Entrepreneur Gets an SBA LoanWant a Minnesota bank loan? This Minnesota entrepreneur got a bank loan, provided by an Utah bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Wheaton, Minnesota by studying this loan to a local company, made back in 2003. Banks like Bank Of The West may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender BANK OF THE WEST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 7/17/2003 Loan Approval Gross Amount $122,300 Loan Approval from the SBA Of the total $122,300 loan amount, the SBA guaranteed $103,955. 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 2 employees. The SBA loan documents did not indicate that the business 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 can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The West had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The West made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 - Getting Venture Capital SBA Approved Banks in Salt Lake City, Utah
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