Commercial Loans for Professional, Scientific, and Technical Services

Looking for commercial loans for professional, scientific, and technical services? Talk to a banker who works with the SBA. This $430,000 professional, scientific, and technical services loan was issued by a Minnesota bank.

This business knew how to go about getting a business bank loan. Based in St. Paul, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Drake Bank, based in Saint Paul, Minnesota.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
ST. PAUL, MN 55128

SBA Loan Lender

DRAKE BANK
6 W 5TH ST STE 100
SAINT PAUL, MN 55102

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

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

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 13 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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