Firm Gets a Minnesota Small Business Loan

MinnesotaSmall business loans are available to Minnesota small business owners through the SBA. In this case, a Minnesota bank provides the loan.

Getting a small business loan in Minneapolis, Minnesota was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Landmark Commun Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER, PERIPHERAL EQUIPMENT AND SOFTWARE MERCHANT WHOLESALER
MINNEAPOLIS, MN 55439

SBA Loan Lender

LANDMARK COMMUN BANK
29 W MAIN ST
ISANTI, MN 55040

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

423430 - Computer, Peripheral Equipment and Software Merchant Wholesaler

Loan Approval Date

7/2/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Minneapolis MN, you ought to talk with a local Minneapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Minneapolis businesses.

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 Landmark Commun 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.

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SBA Banks in Isanti, Minnesota

Getting an SBA Loan in Minnesota