Drake Bank SBA Loan to Health And Personal Care Stores Company

An SBA loan from Drake Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minneapolis, Minnesota business owner got a $25,000 loan.

Getting a small business loan in Minneapolis, Minnesota was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Drake Bank, operating out of Saint Paul, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND PERSONAL CARE STORES
MINNEAPOLIS, MN 55406

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

446199 - Health and Personal Care Stores

Loan Approval Date

1/5/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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