Business Loan from Drake Bank Given to Insurance Agencies And Brokerages Company

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 St. Paul, Minnesota business owner got a $250,000 loan.

This business 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 $250,000 to help grow their West St. Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
WEST ST. PAUL, MN 55118

SBA Loan Lender

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

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

524210 - Insurance Agencies and Brokerages

Loan Approval Date

7/19/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs.

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

If you have been wondering how do i get money to start a business in West St. Paul MN, you ought to talk with a local West St. Paul SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West St. Paul businesses.

We can help you find the best banks for small businesses in West St. 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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