Minneapolis, Minnesota Entrepreneur Gets a Bank Loan

SBA loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota SBA loan, provided by a Virginia bank, that was approved by the SBA.

Getting a small business loan in Minneapolis, Minnesota was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Capital One. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
MINNEAPOLIS, MN 55410

SBA Loan Lender

CAPITAL ONE
1680 CAPITAL ONE DR
MCLEAN, VA 22102

This 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

812199 - Personal Care Services

Loan Approval Date

10/31/2007

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you need business start up money in Minneapolis MN, you ought to talk with a local Minneapolis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Minneapolis businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Capital One so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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