Maple Grove, Minnesota Entrepreneur Gets an SBA Loan

Would a Minnesota small business loan help your small business to grow and prosper? If so, you may want to talk with this Wisconsin bank, which offers SBA loans to Minnesota entrepreneurs.

You can learn something about getting a small business loan in Maple Grove, Minnesota by studying this loan to a local company, made back in 2007. 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: FOUNDATION, STRUCTURE, AND BUILDING EXTERIOR CONTRACTORS
Maple Grove, MN 55369

SBA Loan Lender

ASSOCIATED BANK
200 N ADAMS ST
GREEN BAY, WI 54301

The lender provided this commercial loan 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

238190 - Foundation, Structure, and Building Exterior Contractors

Loan Approval Date

2/8/2007

Loan Approval Gross Amount

$210,900

Loan Approval from the SBA

Of the total $210,900 loan amount, the SBA guaranteed $105,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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