Minnetonka, Minnesota Bank Lends Money to Membership Sports And Recreation Clubs Company in Excelsior, Minnesota

Thinking about meeting with a Minnetonka, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Minnetonka bank, that was approved by the SBA.

Applying for an SBA loan with First Minnetonka City Bank worked out well for our friends at one local business in Excelsior, Minnesota. They got an SBA loan for $160,000. Nice!

SBA Loan Borrower

COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS
EXCELSIOR, MN 55331

SBA Loan Lender

FIRST MINNETONKA CITY BANK
14550 EXCELSIOR BLVD
MINNETONKA, MN 55345

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7997 - Membership Sports and Recreation Clubs

NAICS Code

713930 - Marinas

Loan Approval Date

4/6/2001

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Minnetonka City Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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