How to Get a Loan for Durable Goods Merchant Wholesalers

Looking for business loans for durable goods merchant wholesalers? Try the SBA. This $40,000 durable goods merchant wholesalers loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Eagan, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Peoples Bank Of Commerce, based in Cambridge, Minnesota.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
EAGAN, MN 55121

SBA Loan Lender

PEOPLES BANK OF COMMERCE
234 E 1ST AVE
CAMBRIDGE, MN 55008

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

8/28/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Eagan MN, you ought to talk with a local Eagan SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Eagan businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Peoples Bank Of Commerce had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Peoples Bank Of Commerce made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Cambridge, Minnesota

Getting an SBA Loan in Minnesota