Oakdale, Minnesota Bank Lends Money to Fitness And Recreational Sports Centers Company in Minneapolis, Minnesota

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

Applying for an SBA loan with Prosperan Bank worked out well for our friends at one local company in Minneapolis, Minnesota. The business was able to get an SBA loan for $262,400. Nice!

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
MINNEAPOLIS, MN 55401

SBA Loan Lender

PROSPERAN BANK
990 HELENA AVE NORTH
OAKDALE, MN 55128

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/10/2004

Loan Approval Gross Amount

$262,400

Loan Approval from the SBA

Of the total $262,400 loan amount, the SBA guaranteed $196,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 49 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, 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.

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SBA Participating Banks in Oakdale, Minnesota

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