Bloomington, Minnesota Business Gets SBA-Guaranteed Funding from Boundary Waters Bank

Boundary Waters Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Boundary Waters Bank, out of Blaine, Minnesota. The loan was granted and they received $300,000 to help grow their Bloomington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
BLOOMINGTON, MN 55425

SBA Loan Lender

BOUNDARY WATERS BANK
11800 ABERDEEN ST, STE 120
BLAINE, MN 55449

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

448310 - Jewelry Stores

Loan Approval Date

10/21/2002

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 SBA loan documents indicated that the loan would help retain 5 existing jobs.

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Boundary Waters Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Line of Credit

Small Bank Loans in Blaine, Minnesota

Getting an SBA Loan in Minnesota