Getting an SBA Loan for Piece Goods, Notions, and Dry Goods Wholesalers

With these SBA loans for piece goods, notions, and dry goods wholesalers, the SBA guarantees the lender that the loan will be repaid. This piece goods, notions, and dry goods wholesalers loan for $450,000 was given to a Minnesota entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $450,000 from Associated Bank. The SBA made the loan possible by guaranteeing $337,500 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PIECE GOODS, NOTIONS, AND DRY GOODS WHOLESALERS
MINNEAPOLIS, MN 55401

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

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

422310 - Piece Goods, Notions, and Dry Goods Wholesalers

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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 7 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company 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.

We can help you find the best banks for small businesses in Minneapolis or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Obtaining Funding - Friends and Family

Good Banks for Small Business in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota