Franklin National Bank - Minneapolis Gives SBA Loan to Technical And Trade Schools Company

MinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Minnesota bank provides the loan.

You can learn something about getting a small business loan in Richfield, Minnesota by studying this loan to a local business, made back in 2006. Banks like Franklin National Bank - Minneapolis may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS
RICHFIELD, MN 55423

SBA Loan Lender

FRANKLIN NATIONAL BANK - MINNEAPOLIS
525 WASHINGTON AVE
MINNEAPOLIS, MN 55401

This lender issued this commercial loan under the 7A SBA 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

611519 - Technical and Trade Schools

Loan Approval Date

2/1/2006

Loan Approval Gross Amount

$218,400

Loan Approval from the SBA

Of the total $218,400 loan amount, the SBA guaranteed $163,800.

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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Richfield MN, you ought to talk with a local Richfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Richfield businesses.

We can help you find the best banks for small businesses in Richfield 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.

Related Links:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Minneapolis, Minnesota

Find an SBA Lender in Minnesota