Minneapolis, Minnesota Entrepreneur Gets a Small Business Loan

Small business loans in Minnesota are hard to find these days. We take a look at one Minnesota small business loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Minneapolis, Minnesota was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from M&i Marshall & Ilsley Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
MINNEAPOLIS, MN 55404

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
770 N WATER ST
MILWAUKEE, WI 53202

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5141 - Groceries, General Line

NAICS Code

422410 - General Line Grocery Wholesalers

Loan Approval Date

9/27/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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.

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 M&i Marshall & Ilsley 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:

Business Credit Evaluation

Best Milwaukee, Wisconsin Banks for Small Business

SBA Wisconsin Lenders