Western Bank Gives Small Business Loan to Bed-And-Breakfast Inns Company

Would a Minnesota business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to Minnesota entrepreneurs.

Getting a small business loan in St. Paul, Minnesota was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Western Bank. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
ST. PAUL, MN 55107

SBA Loan Lender

WESTERN BANK
663 UNIVERSITY AVE
SAINT PAUL, MN 55104

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 loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

4/16/2004

Loan Approval Gross Amount

$335,000

Loan Approval from the SBA

Of the total $335,000 loan amount, the SBA guaranteed $251,250.

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 only one employee. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 $335,000. How would you spend $335,000 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:

The Art of Bootstrapping

SBA 7A Banks in Saint Paul, Minnesota

Minnesota SBA 7A Lenders