SBA Loans for Radio, Television, and Electronics Stores

Looking for SBA loans for radio, television, and electronics stores? An SBA loan may be just what you've been looking for. This $500,000 radio, television, and electronics stores loan was issued by a Minnesota bank.

Getting a small business loan in Burnsville, Minnesota was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Crown Bank, operating out of Edina, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES
BURNSVILLE, MN 55337

SBA Loan Lender

CROWN BANK
6600 FRANCE AVE SOUTH, STE 12
EDINA, MN 55435

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

11/13/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help generate 40 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Crown Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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 - Friends and Family

Banks in Edina, Minnesota

Getting a Business Loan in Minnesota