Business Loan from Mainstreet Bank Given to Nursery And Garden Centers Company

An SBA loan from Mainstreet 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 $100,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $100,000 from Mainstreet Bank. The SBA made the loan possible by guaranteeing $50,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND GARDEN CENTERS
MINNEAPOLIS, MN 55406

SBA Loan Lender

MAINSTREET BANK
1650 S LAKE ST
FOREST LAKE, MN 55025

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

444220 - Nursery and Garden Centers

Loan Approval Date

4/22/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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SBA Banks in Forest Lake, Minnesota

Minnesota SBA Bank Lenders