Plymouth, Minnesota Business Gets SBA-Guaranteed Funding from Associated Bank
Associated Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Plymouth, Minnesota was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Associated Bank, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: BUSINESS SERVICES
PLYMOUTH, MN 55441
SBA Loan Lender
ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7389 - Business Services
Loan Approval Date
6/1/2000
Loan Approval Gross Amount
$447,500
Loan Approval from the SBA
Of the total $447,500 loan amount, the SBA guaranteed $335,625.
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 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you are raising money in Plymouth MN, you ought to talk with a local Plymouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Plymouth businesses.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Associated Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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