Saint Paul, Minnesota Bank Lends Money to Testing Laboratories Company in Burnsville, Minnesota

Thinking about meeting with a Saint Paul, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA.

Applying for an SBA loan with Peoples Bank Of Commerce worked out well for our friends at one local business in Burnsville, Minnesota. They received an SBA loan for $165,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
BURNSVILLE, MN 55337

SBA Loan Lender

PEOPLES BANK OF COMMERCE
43 E KELLOGG BLVD
SAINT PAUL, MN 55101

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

9/21/2004

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $123,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 140 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $165,000 loan. Remember, where there is a will, there is a way!

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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