Minneapolis, Minnesota Bank Lends Money to Wood Office Furniture Company in Eagan, Minnesota

A Minneapolis, Minnesota SBA loan can be yours. Learn how one firm got a $765,000 business loan from this Minnesota bank.

This loan to an entrepreneur is a good example of an SBA loan. Wells Fargo Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE
EAGAN, MN 55121

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2521 - Wood Office Furniture

NAICS Code

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

8/7/2000

Loan Approval Gross Amount

$765,000

Loan Approval from the SBA

Of the total $765,000 loan amount, the SBA guaranteed $573,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 33 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 33 existing jobs.

Next Steps for Getting an SBA Loan

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $765,000 loan. Remember, where there is a will, there is a way!

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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