Minnesota SBA Loan Issued to Institutional Furniture Manufacturing Company

Small business loans in Minnesota are hard to find these days. We take a look at one Minnesota small business loan, provided by a Minnesota bank, that was approved by the SBA.

Getting a small business loan in Shoreview, Minnesota was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Landmark Commun Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING
SHOREVIEW, MN 55126

SBA Loan Lender

LANDMARK COMMUN BANK
29 W MAIN ST
ISANTI, MN 55040

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

337127 - Institutional Furniture Manufacturing

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 15 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Landmark Commun Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Raising Venture Capital

Banks in Isanti, Minnesota

Getting a Business Loan in Minnesota