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November 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Highland Bank Minneapolis Business Loans > Furniture Loan | ||||
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Getting a Small Business Loan in St Paul, Minnesota
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Company Gets a Minnesota Small Business LoanSBA loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA. Getting a small business loan in St Paul, Minnesota was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Highland Bank. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE SBA Loan Lender HIGHLAND BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5021 - Furniture NAICS Code 442110 - Furniture Stores Loan Approval Date 2/9/2001 Loan Approval Gross Amount $1,320,550 Loan Approval from the SBA Of the total $1,320,550 loan amount, the SBA guaranteed $990,413. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are working on finding money to start a business in St Paul MN, you ought to talk with a local St Paul SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St Paul businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Highland Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Highland Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in Minneapolis, Minnesota
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