Commercial Loans for Store Retailers

Looking for commercial loans for store retailers? An SBA loan may be just what you've been looking for. This $50,000 store retailers loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in Excelsior, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Minnetonka City Bank, based in Minnetonka, Minnesota.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
EXCELSIOR, MN 55331

SBA Loan Lender

FIRST MINNETONKA CITY BANK
11500 HWY 7
MINNETONKA, MN 55343

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Minnetonka City Bank and they will explain how you can get an SBA loan for your company.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Minnetonka, Minnesota

SBA Participating Banks in Minnesota