SBA Loan from First Advantage Bank Helps Hazardous Waste Collection Company

First Advantage Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Blaine, Minnesota was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Advantage Bank, operating out of Coon Rapids, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HAZARDOUS WASTE COLLECTION
BLAINE, MN 55434

SBA Loan Lender

FIRST ADVANTAGE BANK
9950 FOLEY BLVD NW
COON RAPIDS, MN 55433

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562112 - Hazardous Waste Collection

Loan Approval Date

5/24/2005

Loan Approval Gross Amount

$440,000

Loan Approval from the SBA

Of the total $440,000 loan amount, the SBA guaranteed $330,000.

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 5 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Advantage Bank 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:

A Company That Helps Entrepreneurs

Where to Get an SBA Loan in Coon Rapids, Minnesota

Minnesota SBA 7A Lenders