Used Merchandise Stores Business Loans

With these business loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $675,750 was given to a Minnesota entrepreneur in 2007.

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 M&i Marshall & Ilsley Bank, operating out of Burnsville, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
BURNSVILLE, MN 55337

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
14201 GRAND AVE SOUTH
BURNSVILLE, MN 55337

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

3/7/2007

Loan Approval Gross Amount

$675,750

Loan Approval from the SBA

Of the total $675,750 loan amount, the SBA guaranteed $506,812.

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 35 employees. The loan application indicated that the loan would help generate 29 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $675,750. How would you spend $675,750 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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