Anchor Bank SBA Loan to Eating Places Company

Want a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Anchor Bank, based in Wayzata, Minnesota.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MINNEAPOLIS, MN 55042

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

This loan for a small business was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$661,000

Loan Approval from the SBA

Of the total $661,000 loan amount, the SBA guaranteed $495,750.

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 48 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Anchor Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Find an SBA Lender in Wayzata, Minnesota

SBA Participating Banks in Minnesota