Entrepreneur Works With Minnetonka, Minnesota Bank to Get an SBA Loan

Get SBA loans from a Minnetonka, Minnesota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Minnetonka City Bank is a Minnetonka, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT
RICHFIELD, MN 55423

SBA Loan Lender

FIRST MINNETONKA CITY BANK
14550 EXCELSIOR BLVD
MINNETONKA, MN 55345

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5065 - Electronic Parts and Equipment

NAICS Code

334290 - Communications Equipment Manufacturing

Loan Approval Date

1/31/2002

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $19,550.

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 2 employees. The SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Entrepreneur Works With Minnetonka, Minnesota Bank to Get an SBA Loan