Osseo, Minnesota Entrepreneur Gets an SBA Loan

Want a Minnesota SBA loan? This Minnesota entrepreneur got an SBA loan, provided by a Minnesota bank that works with the SBA to help small business owners.

This small business, based in Osseo, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from American Bank Of St. Paul. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
OSSEO, MN 55369

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able 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

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from American Bank Of St. Paul 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.

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