Minnwest Finance, Inc. SBA Loan to Real Estate Appraisers Company

An SBA loan from Minnwest Finance, Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minneapolis, Minnesota business owner got a $35,000 loan.

This business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Minnwest Finance, Inc., based in Minnetonka, Minnesota.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE APPRAISERS
MINNEAPOLIS, MN 55401

SBA Loan Lender

MINNWEST FINANCE, INC.
10201 WAYZATA BLVD, STE 230
MINNETONKA, MN 55343

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531320 - Real Estate Appraisers

Loan Approval Date

4/26/2005

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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