Coon Rapids (rr Name Coon Cree, Minnesota Business Gets SBA-Guaranteed Funding from First Minnesota Bank

First Minnesota Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

Getting a small business loan in Coon Rapids (rr Name Coon Cree, Minnesota was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Minnesota Bank, operating out of Minnetonka, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING
COON RAPIDS (RR NAME COON CREE, MN 55433

SBA Loan Lender

FIRST MINNESOTA BANK
4625 COUNTY RD 101
MINNETONKA, MN 55345

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

7/6/2005

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan documents indicated that the loan would help retain 14 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 First Minnesota 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:

Small Business Credit Cards

Find an SBA Lender in Minnetonka, Minnesota

Getting an SBA Loan in Minnesota