Minnesota Business Loan Issued to Business Services Company

Small business loans in Minnesota are tough to come by these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Minneapolis, Minnesota was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bankcherokee. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
MINNEAPOLIS, MN 55403

SBA Loan Lender

BANKCHEROKEE
607 S SMITH AVE
SAINT PAUL, MN 55107

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

Loan Approval Date

6/26/2000

Loan Approval Gross Amount

$830,416

Loan Approval from the SBA

Of the total $830,416 loan amount, the SBA guaranteed $622,812.

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 80 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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