Entrepreneur Works With Oakdale, Minnesota Bank to Get an SBA Loan

Get small business loans from an Oakdale, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Prosperan Bank is a Oakdale, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL ELECTRIC LIGHTING FIXTURE MANUFACTURING
MAPLE GROVE, MN 55369

SBA Loan Lender

PROSPERAN BANK
990 HELENA AVE NORTH
OAKDALE, MN 55128

This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

335122 - Commercial and Industrial Electric Lighting Fixture Manufacturing

Loan Approval Date

3/15/2006

Loan Approval Gross Amount

$411,300

Loan Approval from the SBA

Of the total $411,300 loan amount, the SBA guaranteed $308,475.

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 12 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $411,300 loan. Remember, things become real when you believe you can achieve them!

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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