Business Loan from First National Bank Minnesota Given to Passenger Car Leasing Company

An SBA loan from First National Bank Minnesota typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eden Prairie, Minnesota business owner got a $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eden Prairie, Minnesota was able to borrow $100,000 from First National Bank Minnesota. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PASSENGER CAR LEASING
EDEN PRAIRIE, MN 55344

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
500 LONG ST
MANKATO, MN 56001

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

532112 - Passenger Car Leasing

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank Minnesota 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.

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