Minneapolis, Minnesota Business Gets SBA-Guaranteed Funding from Fidelity Bank
Fidelity Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Fidelity Bank, out of Edina, Minnesota. The loan was granted and they received $1,000,000 to help grow their Minneapolis, Minnesota business.
SBA Loan Borrower
COMPANY TYPE: STATIONERY AND OFFICE SUPPLIES MERCHANT WHOLESALERS
MINNEAPOLIS, MN 55401
SBA Loan Lender
FIDELITY BANK
7600 PARKLAWN AVE
EDINA, MN 55435
The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
424120 - Stationery and Office Supplies Merchant Wholesalers
Loan Approval Date
5/17/2004
Loan Approval Gross Amount
$1,000,000
Loan Approval from the SBA
Of the total $1,000,000 loan amount, the SBA guaranteed $500,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 10 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fidelity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fidelity 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.
Related Links:
Business Cash Advances
Who Lends Money to Small Businesses in Edina, Minnesota
Minnesota SBA Banks