Minnetonka, Minnesota Bank Lends Money to Gift, Novelty, And Souvenir Stores Company in Plymouth, Minnesota

Want to talk with a Minnetonka, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Minnetonka bank, that was approved by the SBA.

Applying for an SBA loan with First Minnetonka City Bank worked out well for our friends at one local company in Plymouth, Minnesota. The business was able to get an SBA loan for $65,000. Great job!

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
PLYMOUTH, MN 55446

SBA Loan Lender

FIRST MINNETONKA CITY BANK
11500 HWY 7
MINNETONKA, MN 55305

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

9/27/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Plymouth or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Where to Get an SBA Loan in Minnetonka, Minnesota

SBA Lenders in Minnesota