Bloomington, Minnesota Business Gets SBA-Guaranteed Funding from Anchor Bank Heritage

Anchor Bank Heritage 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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bloomington, Minnesota was able to borrow $400,000 from Anchor Bank Heritage. The SBA made the loan possible by guaranteeing $360,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: ANALYTICAL LABORATORY INSTRUMENT MANUFACTURING
BLOOMINGTON, MN 55431

SBA Loan Lender

ANCHOR BANK HERITAGE
1920 DONEGAL DR
WOODBURY, MN 55125

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334516 - Analytical Laboratory Instrument Manufacturing

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $360,000.

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 9 employees. The loan application did not indicate that the company planned to use the funding to hire new 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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