Saint Michael, Minnesota Lender Lends Money to Environmental Consulting Services Company

Find Saint Michael, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Highland Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Bloomington, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Highland Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ENVIRONMENTAL CONSULTING SERVICES
BLOOMINGTON, MN 55437

SBA Loan Lender

HIGHLAND BANK
701 CENTRAL AVE EAST
SAINT MICHAEL, MN 55376

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541620 - Environmental Consulting Services

Loan Approval Date

8/18/2005

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 14 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Bloomington MN, you ought to talk with a local Bloomington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bloomington businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - How to Borrow Money

Small Business Banks in Saint Michael, Minnesota

Minnesota SBA 7A Lenders