Growing Company Gets a Minnesota SBA Loan

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in Mendota Heights, Minnesota was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from American Bank Of St. Paul. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND INSTRUCTION
MENDOTA HEIGHTS, MN 55118

SBA Loan Lender

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

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

611699 - Schools and Instruction

Loan Approval Date

4/27/2007

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $180,000. How would you spend $180,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How Much Venture Capital Is There?

Best Saint Paul, Minnesota Banks for Small Business

Find an SBA Lender in Minnesota