Plymouth, Minnesota Bank Lends Money to Eating Places Company in Minneapolis, Minnesota
Get small business loans from a Plymouth, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
Associated Bank is a Plymouth, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
MINNEAPOLIS, MN 55404
SBA Loan Lender
ASSOCIATED BANK
2655 CAMPUS DR
PLYMOUTH, MN 55441
This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
Loan Approval Date
2/11/2000
Loan Approval Gross Amount
$23,200
Loan Approval from the SBA
Of the total $23,200 loan amount, the SBA guaranteed $18,560.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Associated Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Equity Financing
Small Business Banks in Plymouth, Minnesota
Minnesota SBA 7A Lenders