Wayzata, Minnesota Lender Lends Money to Wood Window And Door Manufacturing Company

Want to talk with a Wayzata, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Wayzata bank, that was approved by the SBA.

Applying for an SBA loan with Anchor Bank worked out well for our friends at one local firm in Lakeville, Minnesota. They received an SBA loan for $500,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: WOOD WINDOW AND DOOR MANUFACTURING
LAKEVILLE, MN 55044

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321911 - Wood Window and Door Manufacturing

Loan Approval Date

10/5/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 44 employees. This SBA loan request indicated that the loan would help retain 44 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Anchor Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA Banks in Wayzata, Minnesota

Getting an SBA Loan in Minnesota