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

Get to know Minnetonka, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. First Minnesota Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Eden Prairie, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Minnesota Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MARKETING CONSULTING SERVICES
EDEN PRAIRIE, MN 55344

SBA Loan Lender

FIRST MINNESOTA BANK
4625 COUNTY RD 101
MINNETONKA, MN 55345

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

541613 - Marketing Consulting Services

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Eden Prairie or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Realistic Debt Financing Options

Good Banks for Small Business in Minnetonka, Minnesota

Minnesota SBA 7A Banks