Business Loan from The Business Bank Given to General Warehousing And Storage Company

An SBA loan from The Business Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Brighton, Minnesota business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Brighton, Minnesota was able to borrow $150,000 from The Business Bank. The SBA made the loan possible by guaranteeing $75,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL WAREHOUSING AND STORAGE
NEW BRIGHTON, MN 55112

SBA Loan Lender

THE BUSINESS BANK
11100 WAYZATA BLVD, STE 150
MINNETONKA, MN 55305

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

493110 - General Warehousing and Storage

Loan Approval Date

1/24/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from The Business 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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Minnetonka, Minnesota

Getting an SBA Loan in Minnesota