Borrowing Money for General Line Grocery Merchant Wholesalers

Looking for bank loans for general line grocery merchant wholesalers? An SBA loan may be just what you've been looking for. This $495,000 general line grocery merchant wholesalers loan was issued by a Minnesota bank.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Voyager Bank, out of Eden Prairie, Minnesota. The loan was granted and they received $495,000 to help grow their Chanhassen, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GENERAL LINE GROCERY MERCHANT WHOLESALERS
CHANHASSEN, MN 55317

SBA Loan Lender

VOYAGER BANK
775 PRAIRIE CENTER DR
EDEN PRAIRIE, MN 55344

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

424410 - General Line Grocery Merchant Wholesalers

Loan Approval Date

10/12/2006

Loan Approval Gross Amount

$495,000

Loan Approval from the SBA

Of the total $495,000 loan amount, the SBA guaranteed $371,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 66 employees. This SBA loan request indicated that the loan would help retain 63 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Choosing VC Firms

Small Bank Loans in Eden Prairie, Minnesota

Getting an SBA Loan in Minnesota