Local Business Gets a Minnesota Small Business Loan

MinnesotaBusiness loans are available to Minnesota business owners through the SBA. In this case, a Minnesota bank provides the loan.

Getting a small business loan in Maple Grove, Minnesota was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Highland Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
Maple Grove, MN 55369

SBA Loan Lender

HIGHLAND BANK
13370 GROVE DR
MAPLE GROVE, MN 55369

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

812112 - Beauty Salons

Loan Approval Date

11/8/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 13 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 20 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.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Getting a Small Business Loan

SBA 7A Banks for Maple Grove, Minnesota Loans

Where to Get an SBA Loan Minnesota