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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Wayzata, Business Loans > Anchor Bank Wayzata Business Loans > Wholesale Trade Agents And Brokers Loan | ||||
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SBA Lenders in Minnesota
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Anchor Bank SBA Loan to Wholesale Trade Agents And Brokers CompanyAnchor Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Minneapolis, Minnesota was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Anchor Bank, operating out of Wayzata, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: WHOLESALE TRADE AGENTS AND BROKERS SBA Loan Lender ANCHOR BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 425120 - Wholesale Trade Agents and Brokers Loan Approval Date 11/8/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business Many small businesses receive loans backed by the U.S. Small Business Administration. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Anchor Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Accountant's Role in Securing Financing SBA 7A Lenders in Wayzata, Minnesota
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