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November 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Associated Bank Minneapolis Business Loans > Water Supply And Irrigation Systems Loan | ||||
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Associated Bank Business Loan White Bear Lake, Minnesota
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Business Loan from Associated Bank Given to Water Supply And Irrigation Systems CompanyAn SBA loan from Associated Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a White Bear Lake, Minnesota business owner got a $73,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in White Bear Lake, Minnesota was able to borrow $73,000 from Associated Bank. The SBA made the loan possible by guaranteeing $62,050 of this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WATER SUPPLY AND IRRIGATION SYSTEMS SBA Loan Lender ASSOCIATED BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 221310 - Water Supply and Irrigation Systems Loan Approval Date 6/10/2003 Loan Approval Gross Amount $73,000 Loan Approval from the SBA Of the total $73,000 loan amount, the SBA guaranteed $62,050. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Associated Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Banks in Minneapolis, Minnesota
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