Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Banks for Saint Paul, Minnesota Businesses

 

 
Loan Census SBA Loan Info

Raising Money for Business Associations

With these business loans for business associations, the SBA guarantees the lender that the loan will be repaid. This business associations loan for $216,700 was given to a Minnesota entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Saint Paul, Minnesota was able to borrow $216,700 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $162,525 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS ASSOCIATIONS
SAINT PAUL, MN 55122

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender issued this bank loan under the SBA 7A lending 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

813910 - Business Associations

Loan Approval Date

8/18/2006

Loan Approval Gross Amount

$216,700

Loan Approval from the SBA

Of the total $216,700 loan amount, the SBA guaranteed $162,525.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Alternative Financing

Best Banks for Small Business in Cincinnati, Ohio

Getting a Business Loan in Ohio