Saint Paul, Minnesota Lender Lends Money to Professional, Scientific, And Technical Services Company
Thinking about meeting with a Saint Paul, Minnesota bank about a business loan? Here's one Minnesota business loan, issued by a Saint Paul bank, that was approved by the SBA.
Applying for an SBA loan with Park Midway Bank worked out well for our friends at one local business in Northfield, Minnesota. The business was able to get an SBA loan for $825,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
NORTHFIELD, MN 55057
SBA Loan Lender
PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108
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
541990 - Professional, Scientific, and Technical Services
Loan Approval Date
4/28/2006
Loan Approval Gross Amount
$825,000
Loan Approval from the SBA
Of the total $825,000 loan amount, the SBA guaranteed $618,750.
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 2 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide money to small business owners for working capital for other expenses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Park Midway 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:
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