Entrepreneur Works With Olivia, Minnesota Bank to Get an SBA Loan

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

Applying for an SBA loan with American Bank Of St. Paul worked out well for our friends at one local firm in Dassel, Minnesota. They received an SBA loan for $453,300. Way to go!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DASSEL, MN 55325

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
815 E DEPUE
OLIVIA, MN 56277

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/20/2002

Loan Approval Gross Amount

$453,300

Loan Approval from the SBA

Of the total $453,300 loan amount, the SBA guaranteed $339,975.

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 40 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

We've showcased information on this loan to let you know that businesses like yours 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.

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Getting an SBA Loan in Minnesota