Community Pride Bank SBA Loan to Metal Service Centers And Metal Merchant Wholesalers Company

An SBA loan from Community Pride Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Blaine, Minnesota business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Blaine, Minnesota was able to borrow $150,000 from Community Pride Bank. The SBA made the loan possible by guaranteeing $127,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: METAL SERVICE CENTERS AND METAL MERCHANT WHOLESALERS
BLAINE, MN 55449

SBA Loan Lender

COMMUNITY PRIDE BANK
901 NICKLAUS COURT
ISANTI, MN 55040

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423510 - Metal Service Centers and Metal Merchant Wholesalers

Loan Approval Date

5/13/2005

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Small Business Loan

SBA Participating Banks in Isanti, Minnesota

SBA Lenders in Minnesota