Anchor Bank SBA Loan to Beauty Shops Company

Searching for a Minnesota SBA loan? Here's one Minnesota business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Wayzata, Minnesota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Anchor Bank, based in Wayzata, Minnesota.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
WAYZATA, MN 55391

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

3/10/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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