Saint Paul, Minnesota Bank Gives SBA Loan to Satellite Telecommunications Company

Want to talk with a Saint Paul, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA.

Applying for an SBA loan with Park Midway Bank worked out well for our friends at one local business in Minneapolis, Minnesota. They received an SBA loan for $50,000. Great job!

SBA Loan Borrower

COMPANY TYPE: SATELLITE TELECOMMUNICATIONS
MINNEAPOLIS, MN 55414

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

517410 - Satellite Telecommunications

Loan Approval Date

1/19/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Park Midway Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Park Midway Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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