Business Loans for Store Retailers

Looking for business loans for store retailers? The SBA may be the answer. This $69,000 store retailers loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Anchor Bank Saint Paul, out of Saint Paul, Minnesota. The loan was granted and they received $69,000 to help grow their Bloomington, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
BLOOMINGTON, MN 55437

SBA Loan Lender

ANCHOR BANK SAINT PAUL
1570 CONCORDIA AVE
SAINT PAUL, MN 55104

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

5/24/2002

Loan Approval Gross Amount

$69,000

Loan Approval from the SBA

Of the total $69,000 loan amount, the SBA guaranteed $58,650.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Anchor Bank Saint Paul and they will explain how you can get an SBA loan for your company.

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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