Anoka, Minnesota Business Gets SBA-Guaranteed Funding from Eastbank

Eastbank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Anoka, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Eastbank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
ANOKA, MN 55303

SBA Loan Lender

EASTBANK
1413 FOURTH ST SE
MINNEAPOLIS, MN 55419

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

3/19/2007

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Anoka MN, you ought to talk with a local Anoka SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anoka businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Eastbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Eastbank 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:

Business Cash Advances

SBA 7A Lenders in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota