Entrepreneur Works With Minneapolis, Minnesota Bank to Get an SBA Loan

Thinking about meeting with a Minneapolis, Minnesota bank about an SBA loan? Here's one Kentucky business loan, issued by a Minneapolis bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local firm in Villa Hills, Kentucky. The business was able to get an SBA loan for $1,000,000. Nice!

SBA Loan Borrower

COMPANY TYPE: TOWING AND TUGBOAT SERVICES
VILLA HILLS, KY 41017

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

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.

SIC Code

4492 - Towing and Tugboat Services

NAICS Code

488330 - Navigational Services to Shipping

Loan Approval Date

6/15/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 37 employees. The SBA loan documents indicated that the loan would help retain 37 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company.

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 Friends and Family Network

SBA Approved Banks in Minneapolis, Minnesota

SBA Lenders in Minnesota