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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > American Bank Of St. Paul Saint Paul Business Loans > Sign Manufacturing Loan | ||||
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MN SBA Loans from American Bank Of St. Paul
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American Bank Of St. Paul SBA Loan to Sign Manufacturing CompanyAmerican Bank Of St. Paul has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Oakdale, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was American Bank Of St. Paul, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: SIGN MANUFACTURING SBA Loan Lender AMERICAN BANK OF ST. PAUL This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339950 - Sign Manufacturing Loan Approval Date 12/14/2007 Loan Approval Gross Amount $290,000 Loan Approval from the SBA Of the total $290,000 loan amount, the SBA guaranteed $217,500. 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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Where to Get an SBA Loan in Saint Paul, Minnesota
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