Local Business Gets a Minnesota 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 Minnetonka, 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 Bremer Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
Minnetonka, MN 55305

SBA Loan Lender

BREMER BANK
633 S CONCORD ST
SOUTH SAINT PAUL, MN 55075

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

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

8/3/2007

Loan Approval Gross Amount

$134,000

Loan Approval from the SBA

Of the total $134,000 loan amount, the SBA guaranteed $113,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? 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:

Obtaining Funding - Friends and Family

Best Banks in South Saint Paul, Minnesota

Minnesota SBA Bank Lenders