South Saint Paul, Minnesota Bank Gives SBA Loan to Industrial And Personal Service Paper Wholesalers Company

Want to talk with a South Saint Paul, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a South Saint Paul bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local firm in Circle Pine, Minnesota. They received an SBA loan for $399,999. Awesome!

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER WHOLESALERS
CIRCLE PINE, MN 55014

SBA Loan Lender

BREMER BANK
633 S CONCORD ST
SOUTH SAINT PAUL, MN 55075

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

422130 - Industrial and Personal Service Paper Wholesalers

Loan Approval Date

2/26/2003

Loan Approval Gross Amount

$399,999

Loan Approval from the SBA

Of the total $399,999 loan amount, the SBA guaranteed $359,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

Banks in South Saint Paul, Minnesota

Minnesota SBA 7A Lenders