Raising Money for Real Estate Credit

With these business loans for real estate credit, the SBA guarantees the lender that the loan will be repaid. This real estate credit loan for $350,500 was given to a Minnesota entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minneapolis, Minnesota was able to borrow $350,500 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $262,875 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE CREDIT
MINNEAPOLIS, MN 55432

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

522292 - Real Estate Credit

Loan Approval Date

12/5/2006

Loan Approval Gross Amount

$350,500

Loan Approval from the SBA

Of the total $350,500 loan amount, the SBA guaranteed $262,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from U.S. Bank National Association 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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