Business Loan from Prosperan Bank Given to Hardware Stores Company

Prosperan Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Wisconsin entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in River Falls, Wisconsin, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Prosperan Bank, based in Oakdale, Minnesota.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
RIVER FALLS, WI 54022

SBA Loan Lender

PROSPERAN BANK
990 HELENA AVE NORTH
OAKDALE, MN 55128

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

531312 - Nonresidential Property Managers

Loan Approval Date

5/25/2005

Loan Approval Gross Amount

$708,000

Loan Approval from the SBA

Of the total $708,000 loan amount, the SBA guaranteed $531,000.

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 14 employees. This SBA loan request 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 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $708,000. How would you spend $708,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Line of Credit

Good Banks for Small Business in Oakdale, Minnesota

Minnesota SBA 7A Banks