Associated Bank Gives Small Business Loan to Wine And Distilled Alcoholic Beverages Company
Small business loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.
You can learn something about getting a small business loan in Minnetonka, Minnesota by studying this loan to a local company, made back in 2000. Banks like Associated Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: WINE AND DISTILLED ALCOHOLIC BEVERAGES
MINNETONKA, MN 55345
SBA Loan Lender
ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5182 - Wine and Distilled Alcoholic Beverages
NAICS Code
422820 - Wine and Distilled Alcoholic Beverage Wholesalers
Loan Approval Date
5/9/2000
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $80,000.
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 8 employees. The loan application indicated that the loan would help generate 1 new job and retain 9 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must 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.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Associated Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Associated 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:
Find Start-Up Capital
Find an SBA Lender in Minneapolis, Minnesota
SBA Minnesota Banks