Financing for General Warehousing and Storage

Looking for commercial loans for general warehousing and storage? An SBA loan may be just what you've been looking for. This $650,000 general warehousing and storage loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in New Brighton, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was The Business Bank, based in Minnetonka, Minnesota.

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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

493110 - General Warehousing and Storage

Loan Approval Date

3/29/2007

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in New Brighton MN, you ought to talk with a local New Brighton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Brighton businesses.

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.

Related Links:

Obtaining Funding - How to Borrow Money

Banks in Minnetonka, Minnesota

Find an SBA Lender in Minnesota