Growing Company Gets a Minnesota Small Business Loan

Would a Minnesota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in Plymouth, Minnesota was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - Lakes. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: COURIERS AND EXPRESS DELIVERY SERVICES
PLYMOUTH, MN 55441

SBA Loan Lender

FIRST NATIONAL BANK - LAKES
2445 SHADYWOOD RD
NAVARRE, MN 55392

This lender issued this bank loan under the SBA's 7(a) guaranteed loan 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

492110 - Couriers and Express Delivery Services

Loan Approval Date

11/7/2002

Loan Approval Gross Amount

$284,000

Loan Approval from the SBA

Of the total $284,000 loan amount, the SBA guaranteed $213,000.

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 10 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business 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.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank - Lakes 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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