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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Confectionery Manufacturing From Purchased Chocolate Loan | ||||
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Saint Paul Bank Loan
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Entrepreneur Works With Saint Paul, Minnesota Bank to Get an SBA LoanWant to talk with a Saint Paul, Minnesota bank about an SBA 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 Park Midway Bank worked out well for our friends at one local business in Minneapolis, Minnesota. The business was able to get an SBA loan for $75,000. Awesome! SBA Loan Borrower COMPANY TYPE: CONFECTIONERY MANUFACTURING FROM PURCHASED CHOCOLATE SBA Loan Lender PARK MIDWAY BANK 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 311330 - Confectionery Manufacturing from Purchased Chocolate Loan Approval Date 6/1/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 15 existing jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Advice on Getting a Small Business Loan SBA 7A Lenders in Saint Paul, Minnesota
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