West Saint Paul, Minnesota Business Gets SBA-Guaranteed Funding from Drake Bank

An SBA loan from Drake Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Saint Paul, Minnesota business owner got a $190,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Drake Bank, out of Saint Paul, Minnesota. The loan was granted and they received $190,000 to help grow their West Saint Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
WEST SAINT PAUL, MN 55118

SBA Loan Lender

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

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$190,000

Loan Approval from the SBA

Of the total $190,000 loan amount, the SBA guaranteed $95,000.

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. The loan application indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in West Saint Paul or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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