St Louis Park, Minnesota Entrepreneur Gets a Small Business Loan

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

This company, based in St Louis Park, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from 1st National Bank - Elk River. We've got the inside scoop on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
ST LOUIS PARK, MN 55416

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
1121 W HWY 10
ANOKA, MN 55303

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

1/17/2002

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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