Appley Valley, Minnesota Entrepreneur Gets an SBA Loan

MinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a Minnesota bank provides the loan.

Getting a small business loan in Appley Valley, Minnesota was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of St. Paul. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL VALVE AND PIPE FITTING MANUFACTURING
APPLEY VALLEY, MN 55124

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
2109 CLIFF RD
EAGAN, MN 55122

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332919 - Metal Valve and Pipe Fitting Manufacturing

Loan Approval Date

5/20/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of St. Paul 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:

Family and Friend Investors - Your First Financiers

Good Banks for Small Business in Eagan, Minnesota

Minnesota SBA Bank Lenders