Mendota Heights, Minnesota Bank Lends Money to Home Furnishing Merchant Wholesalers Company in St. Paul, Minnesota

Thinking about meeting with a Mendota Heights, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Mendota Heights bank, that was approved by the SBA.

Applying for an SBA loan with American Bank Of St. Paul worked out well for our friends at one local company in St. Paul, Minnesota. The business was able to get an SBA loan for $775,000. Great job!

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
ST. PAUL, MN 55105

SBA Loan Lender

AMERICAN BANK OF ST. PAUL
1060 DAKOTA DR
MENDOTA HEIGHTS, MN 55120

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

6/9/2003

Loan Approval Gross Amount

$775,000

Loan Approval from the SBA

Of the total $775,000 loan amount, the SBA guaranteed $581,250.

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 41 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $775,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Angel Investors

Find an SBA Lender in Mendota Heights, Minnesota

SBA Minnesota Lenders