Citizens Independent Bank SBA Loan to Business Services Company

Looking to get a Minnesota small business loan? Here's one Minnesota business loan that was approved by the SBA.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fridley, Minnesota was able to borrow $445,000 from Citizens Independent Bank. The SBA made the loan possible by guaranteeing $333,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
FRIDLEY, MN 55432

SBA Loan Lender

CITIZENS INDEPENDENT BANK
5000 W 36TH ST
SAINT LOUIS PARK, MN 55416

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

Loan Approval Date

5/23/2000

Loan Approval Gross Amount

$445,000

Loan Approval from the SBA

Of the total $445,000 loan amount, the SBA guaranteed $333,750.

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 19 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Citizens Independent Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Saint Louis Park, Minnesota

Minnesota SBA Banks