Saint Paul, Minnesota Bank Gives SBA Loan to Optical Goods Stores Company

A Saint Paul, Minnesota small business loan can be yours. Learn how a business got a $60,500 business loan from this Minnesota bank.

This loan to an entrepreneur is a good example of an SBA loan. Park Midway Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
ST. PAUL, MN 55114

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$60,500

Loan Approval from the SBA

Of the total $60,500 loan amount, the SBA guaranteed $51,425.

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Park Midway 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:

Alternative Financing

Small Business Banks in Saint Paul, Minnesota

Where to Get an SBA Loan Minnesota