SBA Loan from Gateway Bank Helps Dentists Company

Gateway Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eagan, Minnesota was able to borrow $374,200 from Gateway Bank. The SBA made the loan possible by guaranteeing $280,650 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DENTISTS
EAGAN, MN 55122

SBA Loan Lender

GATEWAY BANK
745 MARKET ST
MENDOTA HEIGHTS, MN 55118

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

4/16/2004

Loan Approval Gross Amount

$374,200

Loan Approval from the SBA

Of the total $374,200 loan amount, the SBA guaranteed $280,650.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Gateway Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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Banks in Mendota Heights, Minnesota

Getting a Business Loan in Minnesota