Golden Valley, Minnesota Bank Lends Money to Truck, Utility Trailer, And Rv Rental And Leasing Company in Oakdale, Minnesota

Get to know Golden Valley, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Venture Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Oakdale, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Venture Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: TRUCK, UTILITY TRAILER, AND RV RENTAL AND LEASING
OAKDALE, MN 55128

SBA Loan Lender

VENTURE BANK
5500 WAYZATA BLVD, STE 140
GOLDEN VALLEY, MN 55416

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532120 - Truck, Utility Trailer, and RV Rental and Leasing

Loan Approval Date

2/23/2007

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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