Anchor Bank SBA Loan to Software Publishers Company

An SBA loan from Anchor Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minneapolis, Minnesota business owner got a $75,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Anchor Bank, based in Wayzata, Minnesota.

SBA Loan Borrower

COMPANY TYPE: SOFTWARE PUBLISHERS
Minneapolis, MN 55415

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

The lender provided this SBA 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

511210 - Software Publishers

Loan Approval Date

10/18/2007

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 13 employees. The loan application indicated that the loan would help retain 13 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Wayzata, Minnesota

Where to Get an SBA Loan Minnesota