Hopkins, Minnesota Business Gets SBA-Guaranteed Funding from American Bank Of St. Paul

An SBA loan from American Bank Of St. Paul typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hopkins, Minnesota business owner got a $100,000 loan.

Getting a small business loan in Hopkins, Minnesota was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of St. Paul, operating out of Saint Paul, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
HOPKINS, MN 55343

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812990 - Personal Services

Loan Approval Date

6/1/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Hopkins MN, you ought to talk with a local Hopkins SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hopkins businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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