Edina, Minnesota Business Gets SBA-Guaranteed Funding from Western Bank

An SBA loan from Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edina, Minnesota business owner got a $700,000 loan.

Getting a small business loan in Edina, Minnesota was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Western Bank, operating out of Edina, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS
EDINA, MN 55345

SBA Loan Lender

WESTERN BANK
4700 W 77TH ST, STE 160
EDINA, MN 55435

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447190 - Gasoline Stations

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 14 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $700,000. How would you spend $700,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Line of Credit

SBA 7A Lenders in Edina, Minnesota

Getting an SBA Loan in Minnesota