Saint Paul, Minnesota Bank Lends Money to Coin-Operated Laundries And Drycleaners Company in Minneapolis, Minnesota

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

Applying for an SBA loan with University Finan Corp. Dba Sun worked out well for our friends at one local firm in Minneapolis, Minnesota. They received an SBA loan for $86,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
MINNEAPOLIS, MN 55404

SBA Loan Lender

UNIVERSITY FINAN CORP. DBA SUN
200 UNIVERSITY AVE WEST
SAINT PAUL, MN 55103

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

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

2/28/2001

Loan Approval Gross Amount

$86,000

Loan Approval from the SBA

Of the total $86,000 loan amount, the SBA guaranteed $73,100.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. University Finan Corp. Dba Sun had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, University Finan Corp. Dba Sun made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

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SBA Lenders in Minnesota