Prior Lake, Minnesota Lender Lends Money to Supermarkets And Grocery Stores Company

Find Prior Lake, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. Prior Lake State Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
PRIOR LAKE, MN 55372

SBA Loan Lender

PRIOR LAKE STATE BANK
16677 DULUTH AVE
PRIOR LAKE, MN 55372

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/11/2004

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,000,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 100 employees. The SBA loan documents indicated that the funding would help create 100 new jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Advice on Getting a Small Business Loan

SBA 7A Banks for Prior Lake, Minnesota Loans

Minnesota SBA 7A Lenders