Ham Lake, Minnesota Entrepreneur Gets a Bank Loan

Want a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a Minnesota bank that works with the SBA to help small business owners.

Getting a small business loan in Ham Lake, Minnesota was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Venture Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOORING CONTRACTORS
HAM LAKE, MN 56304

SBA Loan Lender

VENTURE BANK
5601 GREEN VALLEY DR, STE 120
BLOOMINGTON, MN 55437

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238330 - Flooring Contractors

Loan Approval Date

2/20/2004

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. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Venture Bank 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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