Minnesota Small Business Loan Issued to Vending Machine Operators Company

Business loans in Minnesota are hard to find these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Maple Grove, Minnesota was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Anchor Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
MAPLE GROVE, MN 55369

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

454210 - Vending Machine Operators

Loan Approval Date

2/3/2006

Loan Approval Gross Amount

$12,000

Loan Approval from the SBA

Of the total $12,000 loan amount, the SBA guaranteed $6,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Anchor 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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Banks in Wayzata, Minnesota

SBA Minnesota Lenders